Nations Financial Group Inc. IA ADV Purchases 46 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nations Financial Group Inc. IA ADV grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,121 shares of the semiconductor company’s stock after buying an additional 46 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Synopsys were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the third quarter valued at about $25,000. Tsfg LLC increased its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc purchased a new stake in shares of Synopsys in the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.8 %

SNPS opened at $557.96 on Thursday. The stock has a market capitalization of $85.71 billion, a P/E ratio of 58.29, a PEG ratio of 3.37 and a beta of 1.08. The stock has a 50-day moving average price of $509.95 and a 200-day moving average price of $545.30. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’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 directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNPS shares. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has an average rating of “Buy” and an average price target of $649.82.

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.