Sanctuary Advisors LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Sanctuary Advisors LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,878 shares of the semiconductor company’s stock, valued at approximately $7,001,000.

Several other hedge funds have also made changes to their positions in SNPS. Swedbank AB bought a new stake in Synopsys in the first quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC lifted its position in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors grew its position in Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Ten 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 a consensus target price of $638.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 Synopsys stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,882 shares of company stock valued at $14,754,349. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $499.12 on Friday. The company has a market capitalization of $76.47 billion, a P/E ratio of 54.25, a PEG ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38. The company’s 50 day simple moving average is $512.11 and its 200 day simple moving average is $552.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion during 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 company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 EPS. On average, 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.