Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by STF Management LP

STF Management LP lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,427 shares of the semiconductor company’s stock after selling 102 shares during the quarter. STF Management LP’s holdings in Synopsys were worth $1,444,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC grew its position in Synopsys by 600.0% during 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 during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys during the fourth quarter worth about $28,000. Chris Bulman Inc acquired a new stake in Synopsys during the second quarter worth about $30,000. Jones Financial Companies Lllp raised its position in 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, Activest Wealth Management acquired a new position in Synopsys in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set 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 company an “overweight” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Performance

Shares of SNPS stock opened at $490.07 on Monday. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The stock’s fifty day moving average is $536.92 and its two-hundred day moving average is $559.22. The firm has a market capitalization of $75.09 billion, a P/E ratio of 53.27, a PEG ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly 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 net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.17 earnings per share. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The stock was 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 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 is accessible through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction 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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Insiders have sold a total of 73,687 shares of company stock worth $44,616,637 in the last ninety days. Insiders own 0.66% of the company’s stock.

Synopsys Company 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.