Benjamin F. Edwards & Company Inc. Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Benjamin F. Edwards & Company Inc. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 20.1% during the second quarter, Holdings Channel reports. The firm owned 338 shares of the semiconductor company’s stock after selling 85 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Synopsys were worth $201,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SNPS. ORG Partners LLC lifted its stake in Synopsys by 600.0% during the 2nd 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. bought a new position in shares of Synopsys during the fourth quarter valued at about $28,000. Chris Bulman Inc purchased a new position in Synopsys during the second quarter worth about $30,000. Jones Financial Companies Lllp grew its position in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 1.0 %

NASDAQ SNPS opened at $515.40 on Friday. The company has a market cap of $78.97 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $442.00 and a 52 week high of $629.38. The firm’s 50-day simple moving average is $520.43 and its two-hundred day simple moving average is $555.20.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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 net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $2.17 EPS. Synopsys’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction 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 filing with the SEC, which is accessible through the SEC website. In other Synopsys 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 transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now 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 can be accessed through this link. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. Insiders sold 61,317 shares of company stock valued at $37,173,297 over the last three months. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SNPS shares. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys 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.