ASB Consultores LLC Sells 189 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ASB Consultores LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 23.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 634 shares of the semiconductor company’s stock after selling 189 shares during the period. ASB Consultores LLC’s holdings in Synopsys were worth $377,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new stake in shares of Synopsys in the 1st quarter valued at about $239,000. Concurrent Investment Advisors LLC bought a new stake in shares of Synopsys in the 1st quarter valued at about $218,000. Bridgefront Capital LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $951,000. Vanguard Group Inc. boosted its position in shares of Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Geus Aart De sold 5,448 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock valued at $44,616,637 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNPS shares. Rosenblatt Securities restated 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 target price on shares of Synopsys in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Up 3.7 %

Shares of Synopsys stock opened at $514.12 on Friday. The company has a market cap of $78.97 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The business has a 50 day moving average price of $528.10 and a 200-day moving average price of $557.32.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.17 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.