Morse Asset Management Inc Has $1.44 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Morse Asset Management Inc boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,420 shares of the semiconductor company’s stock after buying an additional 160 shares during the quarter. Morse Asset Management Inc’s holdings in Synopsys were worth $1,440,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SNPS. Vanguard Group Inc. increased its stake in shares of Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors lifted its holdings in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 acquiring an additional 1,514,449 shares during the period. GQG Partners LLC grew its stake 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 worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB increased its position in Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $630.09.

Insider Activity

In related news, insider Geus Aart De sold 5,448 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,431,093.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Over the last 90 days, insiders 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 stock opened at $506.65 on Monday. The stock’s fifty day simple moving average is $525.96 and its 200 day simple moving average is $556.52. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The firm has a market cap 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 (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company earned $2.17 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.