Strategic Advisors LLC Has $1.72 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Advisors LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 84.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,390 shares of the semiconductor company’s stock after buying an additional 1,554 shares during the quarter. Strategic Advisors LLC’s holdings in Synopsys were worth $1,717,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sendero Wealth Management LLC bought a new position in shares of Synopsys in the third quarter valued at about $1,357,000. Modus Advisors LLC grew its stake in Synopsys by 3.1% during the third quarter. Modus Advisors LLC now owns 1,031 shares of the semiconductor company’s stock worth $522,000 after buying an additional 31 shares in the last quarter. Clarus Wealth Advisors boosted its stake in shares of Synopsys by 13.1% in the 3rd quarter. Clarus Wealth Advisors now owns 1,212 shares of the semiconductor company’s stock valued at $600,000 after purchasing an additional 140 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of Synopsys by 8.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,587 shares of the semiconductor company’s stock valued at $804,000 after purchasing an additional 128 shares in the last quarter. Finally, Talbot Financial LLC boosted its position in Synopsys by 6.2% during the 3rd quarter. Talbot Financial LLC now owns 23,355 shares of the semiconductor company’s stock worth $11,827,000 after buying an additional 1,370 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 1.2 %

Shares of NASDAQ SNPS traded up $6.17 during trading hours on Thursday, reaching $535.17. The stock had a trading volume of 358,842 shares, compared to its average volume of 1,075,445. The firm has a 50-day moving average of $510.31 and a 200-day moving average of $550.44. The firm has a market cap of $82.21 billion, a price-to-earnings ratio of 57.50, a PEG ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Robert W. Baird upped 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average price target of $638.00.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on 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 of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.