Frank Rimerman Advisors LLC Purchases New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Frank Rimerman Advisors LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,563 shares of the semiconductor company’s stock, valued at approximately $2,120,000.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the 4th quarter valued at approximately $28,000. Chris Bulman Inc acquired a new position in Synopsys in the 2nd quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its position in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 1.5 %

Shares of SNPS stock opened at $506.65 on Friday. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The company has a market cap of $77.63 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. The business’s 50 day moving average is $525.96 and its two-hundred day moving average is $556.65.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $2.17 EPS. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $64,195,149.15. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock worth $44,616,637 in the last 90 days. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNPS. Robert W. Baird upped 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. JPMorgan Chase & Co. upped 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 reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $630.09.

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.