Clearbridge Investments LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Clearbridge Investments LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,773 shares of the semiconductor company’s stock after buying an additional 22,096 shares during the period. Clearbridge Investments LLC’s holdings in Synopsys were worth $134,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in Synopsys by 65.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 20,561 shares of the semiconductor company’s stock worth $12,235,000 after acquiring an additional 8,100 shares during the last quarter. Advisory Alpha LLC grew its holdings in shares of Synopsys by 30.9% during the 2nd quarter. Advisory Alpha LLC now owns 475 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 112 shares during the period. HWG Holdings LP purchased a new position in shares of Synopsys during the 2nd quarter worth $9,006,000. EP Wealth Advisors LLC increased its position in shares of Synopsys by 6.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,494 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 94 shares during the last quarter. Finally, Ecofi Investissements SA purchased a new stake in Synopsys in the 2nd quarter valued at about $6,400,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Geus Aart De sold 27,753 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,635 shares of company stock worth $31,921,800. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, KeyCorp lifted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $638.00.

Synopsys Trading Down 2.1 %

Synopsys stock opened at $495.56 on Wednesday. The firm has a market capitalization of $76.12 billion, a P/E ratio of 53.87, a P/E/G ratio of 3.39 and a beta of 1.08. The stock’s fifty day simple moving average is $515.05 and its 200-day simple moving average is $553.60. Synopsys, Inc. has a twelve month low of $448.26 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The company 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%. Synopsys’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.17 EPS. Sell-side analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Synopsys Company 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.