LPL Financial LLC Buys 10,745 Shares of Synopsys, Inc. (NASDAQ:SNPS)

LPL Financial LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.9% during the 2nd quarter, Holdings Channel reports. The fund owned 94,302 shares of the semiconductor company’s stock after purchasing an additional 10,745 shares during the period. LPL Financial LLC’s holdings in Synopsys were worth $56,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SNPS. 9258 Wealth Management LLC lifted its holdings in shares of Synopsys by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 32 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Synopsys by 5.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,640 shares of the semiconductor company’s stock valued at $1,875,000 after purchasing an additional 186 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Synopsys by 105.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,858 shares of the semiconductor company’s stock valued at $8,680,000 after purchasing an additional 8,634 shares during the last quarter. NorthRock Partners LLC lifted its holdings in shares of Synopsys by 15.7% during the 4th quarter. NorthRock Partners LLC now owns 884 shares of the semiconductor company’s stock valued at $455,000 after purchasing an additional 120 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Synopsys by 6.4% during the 4th quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $1,083,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.2 %

NASDAQ:SNPS opened at $490.07 on Friday. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The stock has a market capitalization of $75.28 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The stock’s 50-day moving average price is $536.92 and its 200-day moving average price is $559.29.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $2.17 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 in the last ninety days. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNPS shares. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 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. Finally, KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $630.09.

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.