Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 552.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124 shares of the semiconductor company’s stock after purchasing an additional 105 shares during the period. Sunbelt Securities Inc.’s holdings in Synopsys were worth $71,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC raised its holdings in Synopsys by 3.1% during the third quarter. Mutual Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $392,000 after buying an additional 26 shares in the last quarter. Fred Alger Management LLC boosted its position in Synopsys by 1.8% in the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares in the last quarter. Truist Financial Corp grew its holdings in Synopsys by 119.2% during the 3rd quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock worth $12,680,000 after acquiring an additional 15,024 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Synopsys by 18.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,787 shares of the semiconductor company’s stock valued at $3,115,000 after buying an additional 1,072 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

SNPS stock opened at $595.06 on Monday. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The company has a market capitalization of $91.18 billion, a price-to-earnings ratio of 64.68, a PEG ratio of 3.84 and a beta of 1.08. The stock has a fifty day moving average of $569.90 and a 200-day moving average of $556.31.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $672.00 target price (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $624.36.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synopsys news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,658 shares of company stock worth $20,970,824. Company 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.