MBB Public Markets I LLC Purchases Shares of 11,013 Synopsys, Inc. (NASDAQ:SNPS)

MBB Public Markets I LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, HoldingsChannel reports. The institutional investor acquired 11,013 shares of the semiconductor company’s stock, valued at approximately $6,553,000.

Several other hedge funds have also modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in Synopsys during the fourth quarter valued at approximately $28,000. Chris Bulman Inc bought a new stake in shares of Synopsys in the 2nd quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings 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 worth $31,000 after purchasing an additional 42 shares during the period. Finally, Fortitude Family Office LLC increased its position 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 valued at $36,000 after purchasing an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of NASDAQ SNPS 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 firm has a market capitalization of $78.85 billion, a price-to-earnings ratio of 55.79, a PEG ratio of 3.34 and a beta of 1.08. The stock has a 50 day moving average price of $519.53 and a 200 day moving average price of $554.93.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,431,093.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,317 shares of company stock valued at $37,173,297. Company insiders own 0.66% of the company’s stock.

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.