Inspire Investing LLC Has $8.47 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Inspire Investing LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,239 shares of the semiconductor company’s stock after selling 2,793 shares during the quarter. Synopsys makes up about 1.0% of Inspire Investing LLC’s holdings, making the stock its 12th biggest position. Inspire Investing LLC’s holdings in Synopsys were worth $8,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SNPS. ORG Partners LLC raised its holdings in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the 4th quarter valued at approximately $28,000. Chris Bulman Inc acquired a new stake in Synopsys in the 2nd quarter worth approximately $30,000. Jones Financial Companies Lllp boosted 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 worth $31,000 after purchasing an additional 42 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.3 %

Shares of NASDAQ:SNPS opened at $495.95 on Thursday. The business’s 50 day moving average is $530.00 and its 200-day moving average is $557.62. The firm has a market capitalization of $75.99 billion, a PE ratio of 53.91, a PEG ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 EPS. On average, sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, 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. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly 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. In the last ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. Corporate insiders own 0.66% of the company’s stock.

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.