Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 65.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,561 shares of the semiconductor company’s stock after purchasing an additional 8,100 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Synopsys were worth $12,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Chris Bulman Inc acquired a new stake in shares of Synopsys in the second quarter worth approximately $30,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Synopsys in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its position in Synopsys by 233.3% during 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 last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 27,753 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’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 owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold a total of 52,635 shares of company stock worth $31,921,800 over the last quarter. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective 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 restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Ten 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 target price of $638.00.

Synopsys Price Performance

Shares of SNPS stock opened at $495.56 on Wednesday. The firm has a fifty day moving average of $515.05 and a two-hundred day moving average of $553.60. The firm has a market cap of $76.12 billion, a P/E ratio of 53.87, a P/E/G ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $448.26 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping 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 business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS 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.