AQR Capital Management LLC Has $57.77 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

AQR Capital Management LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.9% during the second quarter, Holdings Channel reports. The institutional investor owned 97,074 shares of the semiconductor company’s stock after selling 32,117 shares during the quarter. AQR Capital Management LLC’s holdings in Synopsys were worth $57,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. ORG Partners LLC grew its holdings in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys during the fourth quarter worth $28,000. Chris Bulman Inc bought a new stake in Synopsys in the 2nd quarter valued at $30,000. Jones Financial Companies Lllp raised its stake in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS stock opened at $513.31 on Friday. Synopsys, Inc. has a 52 week low of $445.07 and a 52 week high of $629.38. The stock has a market capitalization of $78.85 billion, a PE ratio of 55.79, a PEG ratio of 3.34 and a beta of 1.08. The stock’s fifty day moving average is $519.53 and its 200-day moving average is $554.93.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $2.17 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 2,789 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $610.94, for a total value of $1,703,911.66. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $65,360,194.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 2,789 shares of Synopsys stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $610.94, for a total transaction of $1,703,911.66. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $65,360,194.02. The disclosure for this sale can be found here. Insiders sold 61,317 shares of company stock worth $37,173,297 in the last quarter. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $630.09.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.