Ballentine Partners LLC Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Ballentine Partners LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,027 shares of the semiconductor company’s stock after purchasing an additional 254 shares during the quarter. Ballentine Partners LLC’s holdings in Synopsys were worth $611,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors lifted its stake in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. Norges Bank purchased a new stake in Synopsys in the fourth quarter worth about $1,272,143,000. Finally, GQG Partners LLC lifted its stake in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders have sold a total of 73,687 shares of company stock worth $44,616,637 over the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.3 %

SNPS opened at $465.50 on Wednesday. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38. The company has a market cap of $71.51 billion, a P/E ratio of 50.60, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. The firm’s 50-day moving average price is $544.42 and its 200-day moving average price is $561.04.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNPS. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp upped 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. 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 note on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has a consensus rating of “Buy” and an average target price of $630.09.

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.