735 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 735 shares of the semiconductor company’s stock, valued at approximately $437,000.

A number of other large investors have also added to or reduced their stakes in SNPS. Kingsview Wealth Management LLC bought a new position in shares of Synopsys during the 1st quarter valued at approximately $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys during the first quarter valued at $218,000. Bridgefront Capital LLC purchased a new stake in Synopsys in the fourth quarter worth $951,000. Vanguard Group Inc. raised its stake in shares of Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in shares of Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after buying an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. increased 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. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Performance

Synopsys stock opened at $506.65 on Friday. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The stock has a market cap of $77.63 billion, a P/E ratio of 55.07, a PEG ratio of 3.29 and a beta of 1.08. The firm’s fifty day moving average price is $525.96 and its 200-day moving average price is $556.65.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping 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 return on equity of 22.09% and a net margin of 24.06%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 EPS. Sell-side analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.