Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,997 shares of the semiconductor company’s stock after selling 440 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Synopsys were worth $8,329,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNPS. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. 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. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred 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 $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,687 shares of company stock worth $44,616,637. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $502.25 on Wednesday. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The firm has a market cap of $76.95 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.23 and a beta of 1.08. The stock’s 50-day moving average is $532.47 and its 200-day moving average is $558.06.

Synopsys (NASDAQ:SNPS) last announced 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. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 EPS. Equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.