Anchor Investment Management LLC Purchases 1,485 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Anchor Investment Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 49.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,474 shares of the semiconductor company’s stock after purchasing an additional 1,485 shares during the quarter. Anchor Investment Management LLC’s holdings in Synopsys were worth $2,662,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. KP Management LLC raised its position in shares of Synopsys by 9.5% during the second quarter. KP Management LLC now owns 11,500 shares of the semiconductor company’s stock worth $6,843,000 after purchasing an additional 1,000 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Synopsys by 182.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 96 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 62 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Synopsys during the 2nd quarter worth approximately $7,001,000. Sycomore Asset Management lifted its stake in Synopsys by 86.7% in the second quarter. Sycomore Asset Management now owns 17,748 shares of the semiconductor company’s stock valued at $10,623,000 after buying an additional 8,240 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Synopsys during the second quarter worth $783,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average target price of $638.00.

Synopsys Trading Up 0.3 %

NASDAQ SNPS opened at $496.82 on Thursday. The firm has a market capitalization of $76.32 billion, a P/E ratio of 54.00, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. The firm’s fifty day moving average price is $513.92 and its two-hundred day moving average price is $553.21. Synopsys, Inc. has a 1 year low of $448.26 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued 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 analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm earned $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In related news, insider Geus Aart De sold 27,753 shares of the business’s stock in a transaction that occurred on 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 directly 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 can be accessed through this hyperlink. In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders sold a total of 52,635 shares of company stock valued at $31,921,800 over the last three months. Insiders own 0.66% of the company’s stock.

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.