Creative Planning Has $9.31 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Creative Planning trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,391 shares of the semiconductor company’s stock after selling 317 shares during the quarter. Creative Planning’s holdings in Synopsys were worth $9,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. ORG Partners LLC lifted its holdings in shares of Synopsys by 600.0% during the 2nd 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 last quarter. Chris Bulman Inc acquired a new stake in shares of Synopsys during the 2nd quarter valued at about $30,000. Pacifica Partners Inc. bought a new position in shares of Synopsys in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC raised its stake 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 acquiring an additional 24 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Synopsys in the 2nd quarter valued at approximately $40,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.6 %

Shares of NASDAQ:SNPS opened at $502.41 on Wednesday. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The firm has a market capitalization of $77.18 billion, a PE ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The business’s 50 day moving average is $511.19 and its 200-day moving average is $546.60.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $644.55.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

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.