Concurrent Investment Advisors LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Concurrent Investment Advisors LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 431 shares of the semiconductor company’s stock after buying an additional 50 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Synopsys were worth $257,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its stake in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Activest Wealth Management acquired a new stake in Synopsys in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC boosted its stake in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $630.09.

Synopsys Price Performance

NASDAQ SNPS opened at $477.53 on Thursday. The company has a market capitalization of $73.35 billion, a PE ratio of 51.91, a P/E/G ratio of 3.43 and a beta of 1.08. The company has a fifty day moving average of $555.05 and a 200 day moving average of $563.63. Synopsys, Inc. has a 1 year low of $440.62 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 earnings per share. Research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,623 shares of company stock valued at $45,147,321. Corporate insiders own 0.66% of the company’s stock.

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.