Farther Finance Advisors LLC Has $930,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Farther Finance Advisors LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,835 shares of the semiconductor company’s stock after selling 193 shares during the quarter. Farther Finance Advisors LLC’s holdings in Synopsys were worth $930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares during the period. Capital World Investors lifted its holdings in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its position in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Robert W. Baird boosted their price objective 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. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Piper Sandler lowered their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $643.00.

Synopsys Stock Up 1.2 %

Synopsys stock opened at $524.52 on Tuesday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market cap of $80.57 billion, a P/E ratio of 54.41, a P/E/G ratio of 3.61 and a beta of 1.08. The company’s 50-day moving average price is $504.93 and its two-hundred day moving average price is $544.14.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $2.17 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company 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.