Resources Management Corp CT ADV Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Resources Management Corp CT ADV boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 189.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 341 shares of the semiconductor company’s stock after purchasing an additional 223 shares during the quarter. Resources Management Corp CT ADV’s holdings in Synopsys were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morse Asset Management Inc lifted its position in Synopsys by 7.1% during the second quarter. Morse Asset Management Inc now owns 2,420 shares of the semiconductor company’s stock valued at $1,440,000 after purchasing an additional 160 shares during the period. Xponance Inc. grew its holdings in Synopsys by 1.0% during the second quarter. Xponance Inc. now owns 39,990 shares of the semiconductor company’s stock worth $23,796,000 after acquiring an additional 396 shares during the period. Evergreen Capital Management LLC grew its holdings in Synopsys by 7.2% during the second quarter. Evergreen Capital Management LLC now owns 1,483 shares of the semiconductor company’s stock worth $882,000 after acquiring an additional 100 shares during the period. DRW Securities LLC purchased a new position in Synopsys during the second quarter valued at approximately $985,000. Finally, Edge Capital Group LLC lifted its holdings in Synopsys by 69.5% in the second quarter. Edge Capital Group LLC now owns 1,200 shares of the semiconductor company’s stock valued at $714,000 after acquiring an additional 492 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 0.2 %

Shares of NASDAQ:SNPS opened at $506.83 on Wednesday. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38. The stock has a market cap of $77.85 billion, a P/E ratio of 55.09, a PEG ratio of 3.34 and a beta of 1.08. The business has a fifty day moving average of $521.63 and a two-hundred day moving average of $555.52.

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

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Geus Aart De sold 5,893 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $602.00, for a total value of $3,547,586.00. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,403,766. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders sold a total of 69,475 shares of company stock valued at $42,089,227 over the last 90 days. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNPS. Robert W. Baird raised 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. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.