Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Evergreen Capital Management LLC

Evergreen Capital Management LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,483 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the quarter. Evergreen Capital Management LLC’s holdings in Synopsys were worth $882,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC increased its stake in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Chris Bulman Inc purchased a new stake in shares of Synopsys during the second quarter worth approximately $30,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp increased its stake in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNPS. JPMorgan Chase & Co. upped their target price on shares of 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 reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp increased their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Activity

In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction dated 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 sale, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s 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 of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The disclosure for this sale can be found here. Insiders sold a total of 69,475 shares of company stock worth $42,089,227 over the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

NASDAQ:SNPS opened at $506.83 on Wednesday. The stock has a fifty day moving average price of $521.63 and a two-hundred day moving average price of $555.52. The stock has a market capitalization of $77.85 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. Synopsys’s revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

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.