Bradley Foster & Sargent Inc. CT Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Bradley Foster & Sargent Inc. CT increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,090 shares of the semiconductor company’s stock after purchasing an additional 1,430 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Synopsys were worth $7,194,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. L & S Advisors Inc grew its position in shares of Synopsys by 2.2% in the second quarter. L & S Advisors Inc now owns 3,322 shares of the semiconductor company’s stock valued at $1,977,000 after purchasing an additional 70 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Synopsys by 8.8% in the second quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company’s stock valued at $2,610,000 after purchasing an additional 356 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in Synopsys during the second quarter worth about $203,000. Dimensional Fund Advisors LP grew its position in Synopsys by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company’s stock worth $180,779,000 after buying an additional 43,785 shares in the last quarter. Finally, Walter Public Investments Inc. purchased a new position in Synopsys during the second quarter worth about $10,744,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNPS shares. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. 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. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Trading Down 1.3 %

SNPS opened at $495.95 on Thursday. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The stock has a 50-day moving average price of $530.00 and a 200-day moving average price of $557.62. The stock has a market capitalization of $75.99 billion, a P/E ratio of 53.91, a PEG ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Synopsys 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,687 shares of company stock valued at $44,616,637. Insiders own 0.66% of the company’s stock.

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.