Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 57.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,810 shares of the semiconductor company’s stock after purchasing an additional 1,748 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Synopsys were worth $2,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Truist Financial Corp boosted its stake in shares of Synopsys by 119.2% during the 3rd quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock valued at $12,680,000 after buying an additional 15,024 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Synopsys by 18.8% during the third quarter. Advisors Asset Management Inc. now owns 6,787 shares of the semiconductor company’s stock worth $3,115,000 after purchasing an additional 1,072 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in Synopsys during the third quarter worth $1,201,000. Evergreen Capital Management LLC lifted its stake in Synopsys by 4.2% during the third quarter. Evergreen Capital Management LLC now owns 1,318 shares of the semiconductor company’s stock worth $605,000 after purchasing an additional 53 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in Synopsys by 24.1% during the third quarter. Lido Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $835,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $606.99 on Thursday. The firm has a market capitalization of $93.00 billion, a price-to-earnings ratio of 65.98, a price-to-earnings-growth ratio of 3.93 and a beta of 1.07. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The stock’s fifty day moving average is $573.27 and its 200-day moving average is $557.04.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted $1.76 earnings per share. Analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 36,232 shares of company stock valued at $21,436,741 over the last three months. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SNPS shares. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Robert W. Baird increased their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $625.82.

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.