Synopsys, Inc. (NASDAQ:SNPS) Stock Position Raised by Integrated Advisors Network LLC

Integrated Advisors Network LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 243.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,726 shares of the semiconductor company’s stock after acquiring an additional 1,223 shares during the quarter. Integrated Advisors Network LLC’s holdings in Synopsys were worth $874,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNPS. SeaCrest Wealth Management LLC bought a new stake in shares of Synopsys during the 1st quarter worth $241,000. Norden Group LLC lifted its holdings in shares of Synopsys by 2,270.8% in the first quarter. Norden Group LLC now owns 10,811 shares of the semiconductor company’s stock valued at $6,178,000 after purchasing an additional 10,355 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Synopsys by 2.3% in the first quarter. Kovack Advisors Inc. now owns 1,048 shares of the semiconductor company’s stock valued at $599,000 after purchasing an additional 24 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Synopsys in the first quarter valued at $40,000. Finally, Veracity Capital LLC lifted its holdings in shares of Synopsys by 21.2% in the first quarter. Veracity Capital LLC now owns 897 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 157 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 1.4 %

NASDAQ SNPS opened at $536.42 on Thursday. The stock’s 50 day moving average is $506.07 and its two-hundred day moving average is $544.36. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 55.65, a PEG ratio of 3.52 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNPS shares. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Piper Sandler cut their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average price target of $643.00.

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.