Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,016 shares of the semiconductor company’s stock after buying an additional 760 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Synopsys were worth $3,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter worth about $239,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $218,000. Jacobs & Co. CA acquired a new stake in shares of Synopsys in the third quarter valued at approximately $10,554,000. Vontobel Holding Ltd. grew its position in shares of Synopsys by 4.7% in the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after purchasing an additional 43,228 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in shares of Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on SNPS shares. 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. Mizuho started coverage on shares of Synopsys in a research report on Tuesday. They issued an “outperform” rating and a $650.00 price target on the stock. KeyCorp increased their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $644.55.

Synopsys Stock Down 1.8 %

Synopsys stock opened at $493.41 on Thursday. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The firm has a fifty day moving average of $510.44 and a 200-day moving average of $546.23. The firm has a market capitalization of $75.60 billion, a P/E ratio of 53.63, a PEG ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 earnings per share. On average, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.