ProShare Advisors LLC Purchases 148,423 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ProShare Advisors LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 82.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 327,598 shares of the semiconductor company’s stock after acquiring an additional 148,423 shares during the quarter. ProShare Advisors LLC owned about 0.21% of Synopsys worth $194,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Profund Advisors LLC boosted its position in shares of Synopsys by 0.7% during the 2nd quarter. Profund Advisors LLC now owns 14,290 shares of the semiconductor company’s stock worth $8,503,000 after purchasing an additional 95 shares in the last quarter. Circle Wealth Management LLC bought a new position in shares of Synopsys during the 2nd quarter worth about $1,586,000. Kowal Investment Group LLC boosted its position in shares of Synopsys by 15.8% during the 2nd quarter. Kowal Investment Group LLC now owns 673 shares of the semiconductor company’s stock worth $400,000 after purchasing an additional 92 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of Synopsys by 37.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,061 shares of the semiconductor company’s stock worth $631,000 after purchasing an additional 291 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Synopsys by 10.2% during the 2nd quarter. Sei Investments Co. now owns 234,623 shares of the semiconductor company’s stock worth $139,621,000 after purchasing an additional 21,765 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.5 %

Shares of SNPS stock opened at $506.65 on Friday. The company has a 50 day moving average of $525.96 and a 200-day moving average of $556.65. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The firm has a market cap of $77.63 billion, a P/E ratio of 55.07, a PEG ratio of 3.29 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) 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 quarter last year, the business posted $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $5,701,189.77. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock worth $44,616,637 in the last quarter. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNPS. 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. Robert W. Baird raised their price target on shares of 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 issued a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp raised their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average 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.