Seaport Global Advisors LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Seaport Global Advisors LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,263 shares of the semiconductor company’s stock, valued at approximately $752,000. Synopsys accounts for about 2.7% of Seaport Global Advisors LLC’s investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. Kingsview Wealth Management LLC acquired a new stake in Synopsys during the 1st quarter valued at $239,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys during the 1st quarter worth about $218,000. Bridgefront Capital LLC bought a new stake in shares of Synopsys during the 4th quarter worth about $951,000. Vanguard Group Inc. grew its stake in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after acquiring an additional 1,249 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNPS. JPMorgan Chase & Co. upped their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. 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. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus price target of $638.00.

Synopsys Trading Down 0.4 %

NASDAQ SNPS opened at $513.31 on Monday. The firm’s 50 day simple moving average is $518.53 and its 200 day simple moving average is $554.36. The firm has a market capitalization of $78.65 billion, a price-to-earnings ratio of 55.79, a P/E/G ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $445.07 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results 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 return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast 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 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 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 available at the SEC website. 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 2,789 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $610.94, for a total transaction of $1,703,911.66. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $65,360,194.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,424 shares of company stock valued at $33,625,711. 0.66% of the stock is currently owned by corporate insiders.

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.