Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Kowal Investment Group LLC

Kowal Investment Group LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 15.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 673 shares of the semiconductor company’s stock after acquiring an additional 92 shares during the quarter. Kowal Investment Group LLC’s holdings in Synopsys were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Andina Capital Management LLC lifted its holdings in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares in the last quarter. Ignite Planners LLC lifted its stake in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 20 shares in the last quarter. Finally, Monument Capital Management lifted its stake in Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 10,293 shares of the 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,687 shares of company stock worth $44,616,637. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $506.65 on Friday. The company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 55.07, a P/E/G ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The business’s 50-day moving average is $525.96 and its 200-day moving average is $556.65.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS. Equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. 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.

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.