2,666 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,666 shares of the semiconductor company’s stock, valued at approximately $1,586,000.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird upped their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Performance

SNPS opened at $506.65 on Friday. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The company 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 business’s 50-day simple moving average is $525.96 and its 200-day simple moving average is $556.65.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’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 value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is currently owned by 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.