Fairscale Capital LLC Takes $51,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Fairscale Capital LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 84 shares of the semiconductor company’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC increased its holdings 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 purchasing an additional 36 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the 4th quarter worth about $28,000. Chris Bulman Inc purchased a new stake in shares of Synopsys in the 2nd quarter valued at about $30,000. Jones Financial Companies Lllp boosted its position in shares of 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 acquiring an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Synopsys by 66.7% during the second 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. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of SNPS stock opened at $506.65 on Monday. The business has a 50-day moving average of $525.96 and a 200 day moving average of $556.52. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The stock has a market capitalization of $77.63 billion, a PE ratio of 55.07, a P/E/G ratio of 3.29 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated 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 sale, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction 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 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. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNPS. KeyCorp raised their target price 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. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective 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 data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus price target of $630.09.

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.