Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lifted by KP Management LLC

KP Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the semiconductor company’s stock after acquiring an additional 1,000 shares during the period. Synopsys accounts for 2.4% of KP Management LLC’s holdings, making the stock its 9th biggest position. KP Management LLC’s holdings in Synopsys were worth $6,843,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys in the fourth quarter worth about $28,000. Chris Bulman Inc purchased a new stake in shares of Synopsys during the second quarter worth about $30,000. Jones Financial Companies Lllp increased its holdings 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 valued at $31,000 after acquiring an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position 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 during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 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 SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The disclosure for this sale can be found here. Insiders sold a total of 52,635 shares of company stock worth $31,921,800 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Down 2.1 %

Shares of SNPS stock opened at $495.56 on Wednesday. Synopsys, Inc. has a 52-week low of $448.26 and a 52-week high of $629.38. The stock has a market cap of $76.12 billion, a PE ratio of 53.87, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. The business has a 50-day simple moving average of $515.05 and a 200-day simple moving average of $553.60.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 earnings per share. Sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on SNPS shares. Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average price target of $638.00.

About Synopsys

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.