Trifecta Capital Advisors LLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Trifecta Capital Advisors LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,405 shares of the semiconductor company’s stock after buying an additional 108 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Synopsys were worth $3,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in Synopsys during the fourth quarter worth about $1,576,000. RFG Advisory LLC raised its holdings in Synopsys by 400.0% in the first quarter. RFG Advisory LLC now owns 2,105 shares of the semiconductor company’s stock valued at $1,203,000 after buying an additional 1,684 shares during the period. Aurora Investment Managers LLC. purchased a new position in Synopsys in the first quarter valued at approximately $636,000. CHURCHILL MANAGEMENT Corp grew its stake in Synopsys by 21.2% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 20,860 shares of the semiconductor company’s stock worth $11,922,000 after buying an additional 3,643 shares during the period. Finally, Gulf International Bank UK Ltd grew its stake in Synopsys by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 13,090 shares of the semiconductor company’s stock worth $7,480,000 after buying an additional 65 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

SNPS opened at $504.69 on Friday. The stock’s 50 day moving average price is $512.37 and its 200 day moving average price is $548.41. The stock has a market cap of $77.53 billion, a P/E ratio of 52.35, a P/E/G ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SNPS shares. Piper Sandler restated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp increased 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. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday. They issued a “buy” rating and a $660.00 price objective for the company. Finally, Robert W. Baird boosted their target price 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. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus price target of $644.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’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 owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.

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.