Pacer Advisors Inc. Raises Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Pacer Advisors Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,614 shares of the semiconductor company’s stock after buying an additional 338 shares during the period. Pacer Advisors Inc.’s holdings in Synopsys were worth $12,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Andina Capital Management LLC raised its holdings in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares during the period. Cascade Financial Partners LLC raised its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC increased its stake in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Finally, Monument Capital Management increased its stake in Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the company’s 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 completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Geus Aart De sold 4,212 shares of the 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 completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders 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.

Synopsys Stock Down 1.5 %

Shares of SNPS opened at $506.65 on Monday. The stock has a 50 day moving average price of $525.96 and a 200 day moving average price of $556.52. The company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 earnings per share. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.