Kestra Investment Management LLC Buys New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Kestra Investment Management LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,316 shares of the semiconductor company’s stock, valued at approximately $783,000.

A number of other institutional investors have also recently bought and sold shares of SNPS. ORG Partners LLC lifted its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys during the fourth quarter worth $28,000. Chris Bulman Inc bought a new position in shares of Synopsys during the second quarter valued at $30,000. Jones Financial Companies Lllp boosted its stake in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 1.3 %

SNPS stock opened at $506.39 on Tuesday. The business has a fifty day moving average of $516.90 and a 200-day moving average of $553.99. The company has a market cap of $77.59 billion, a P/E ratio of 55.04, a PEG ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.26 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted $2.17 EPS. The company’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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp lifted their target price 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. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $638.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,424 shares of company stock valued at $33,625,711. 0.66% of the stock is currently owned by 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.