Ieq Capital LLC Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Ieq Capital LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 12.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,085 shares of the semiconductor company’s stock after buying an additional 3,146 shares during the period. Ieq Capital LLC’s holdings in Synopsys were worth $17,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Synopsys in the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Synopsys during the 2nd quarter valued at approximately $572,050,000. Finally, Capital World Investors raised its holdings in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Synopsys stock opened at $514.12 on Friday. The company has a market capitalization of $78.97 billion, a PE ratio of 55.88, a P/E/G ratio of 3.29 and a beta of 1.08. The company has a 50 day moving average price of $528.10 and a 200-day moving average price of $557.32. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $2.17 EPS. Synopsys’s revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SNPS. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective 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, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’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 transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 27,753 shares of the stock in a transaction 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 sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,177,544.14. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock valued at $44,616,637 over the last three months. 0.66% of the stock is owned by company insiders.

About Synopsys

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.