Creative Planning Buys 2,703 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Creative Planning raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,708 shares of the semiconductor company’s stock after purchasing an additional 2,703 shares during the quarter. Creative Planning’s holdings in Synopsys were worth $11,132,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Stifel Financial Corp raised its holdings in Synopsys by 22.7% in the 4th quarter. Stifel Financial Corp now owns 28,116 shares of the semiconductor company’s stock valued at $14,477,000 after acquiring an additional 5,205 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Synopsys in the fourth quarter valued at $219,000. Jones Financial Companies Lllp lifted its position in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. The Manufacturers Life Insurance Company lifted its position in Synopsys by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 166,066 shares of the semiconductor company’s stock worth $85,513,000 after purchasing an additional 1,498 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in Synopsys by 23.1% during the fourth quarter. CWA Asset Management Group LLC now owns 1,201 shares of the semiconductor company’s stock worth $618,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 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 at this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,635 shares of company stock valued at $31,921,800. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 2.1 %

Synopsys stock opened at $495.56 on Wednesday. Synopsys, Inc. has a 12-month low of $448.26 and a 12-month high of $629.38. The stock has a 50-day simple moving average of $515.05 and a 200 day simple moving average of $553.60. The stock has a market capitalization of $76.12 billion, a price-to-earnings ratio of 53.87, a P/E/G ratio of 3.39 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 earnings per share. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SNPS shares. KeyCorp raised their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. raised 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. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $638.00.

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.