Global Retirement Partners LLC Has $351,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Global Retirement Partners LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 694 shares of the semiconductor company’s stock after selling 60 shares during the quarter. Global Retirement Partners LLC’s holdings in Synopsys were worth $351,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of Synopsys by 600.0% during 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 last quarter. Chris Bulman Inc bought a new stake in shares of Synopsys during the second quarter worth about $30,000. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the third quarter worth about $25,000. Tsfg LLC grew its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $505.59 on Tuesday. The stock has a market capitalization of $77.66 billion, a price-to-earnings ratio of 52.45, a PEG ratio of 3.47 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The stock’s 50 day moving average price is $511.71 and its two-hundred day moving average price is $547.12.

Synopsys (NASDAQ:SNPS) last posted its quarterly 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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.17 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys 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 report on Friday, August 23rd. Finally, 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. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $644.00.

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.