Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,313 shares of the semiconductor company’s stock after buying an additional 3,129 shares during the quarter. King Luther Capital Management Corp’s holdings in Synopsys were worth $5,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares during the period. Capital World Investors lifted its holdings in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SNPS shares. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. 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 a consensus target price of $630.09.

Synopsys Price Performance

Shares of SNPS stock opened at $506.65 on Friday. The firm has a market cap of $77.63 billion, a P/E ratio of 55.07, a P/E/G ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The firm has a fifty day moving average of $525.96 and a two-hundred day moving average of $556.71.

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

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction dated 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 sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is currently owned by insiders.

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.