Richardson Financial Services Inc. Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Richardson Financial Services Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,532 shares of the semiconductor company’s stock after selling 38 shares during the period. Richardson Financial Services Inc.’s holdings in Synopsys were worth $912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Middleton & Co. Inc. MA raised its stake in shares of Synopsys by 2.8% during the 2nd quarter. Middleton & Co. Inc. MA now owns 16,714 shares of the semiconductor company’s stock worth $9,946,000 after acquiring an additional 450 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of Synopsys by 36.8% during the second quarter. Carolinas Wealth Consulting LLC now owns 119 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 32 shares in the last quarter. Gardner Lewis Asset Management L P lifted its holdings in shares of Synopsys by 2.7% during the 2nd quarter. Gardner Lewis Asset Management L P now owns 7,468 shares of the semiconductor company’s stock valued at $4,444,000 after purchasing an additional 197 shares during the last quarter. CCLA Investment Management boosted its position in shares of Synopsys by 1.0% in the 2nd quarter. CCLA Investment Management now owns 233,427 shares of the semiconductor company’s stock worth $138,805,000 after purchasing an additional 2,410 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in Synopsys by 3.5% during the 2nd quarter. Blair William & Co. IL now owns 43,443 shares of the semiconductor company’s stock worth $25,851,000 after buying an additional 1,451 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Down 1.3 %

Shares of SNPS opened at $495.95 on Thursday. The firm’s fifty day moving average is $530.00 and its two-hundred day moving average is $557.62. The stock has a market cap of $75.99 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 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 the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.17 EPS. As a group, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In related news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Geus Aart De sold 5,448 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 in the last ninety days. 0.66% of the stock is owned by insiders.

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.