Ensign Peak Advisors Inc Sells 10,301 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ensign Peak Advisors Inc lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,216 shares of the semiconductor company’s stock after selling 10,301 shares during the quarter. Ensign Peak Advisors Inc owned 0.09% of Synopsys worth $81,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Chris Bulman Inc bought a new position in Synopsys in the 2nd quarter valued at approximately $30,000. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its stake in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $506.65 on Friday. The company has a market cap of $77.63 billion, a price-to-earnings ratio of 55.07, a PEG 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 price of $525.96 and a 200-day moving average price of $556.65.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for 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%. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 earnings per share. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider Geus Aart De sold 4,212 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, 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 ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $630.09.

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.