Xponance Inc. Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Xponance Inc. lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,990 shares of the semiconductor company’s stock after purchasing an additional 396 shares during the period. Xponance Inc.’s holdings in Synopsys were worth $23,796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new position in shares of Synopsys during the first quarter valued at $239,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Synopsys in the 1st quarter worth approximately $218,000. Bridgefront Capital LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $951,000. Vanguard Group Inc. increased its holdings in Synopsys by 1.5% during 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 raised its stake in Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. 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 90 days. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $506.65 on Monday. The business’s 50-day simple moving average is $525.96 and its two-hundred day simple moving average is $556.52. The company has a market cap of $77.63 billion, a PE ratio of 55.07, a PEG ratio of 3.29 and a beta of 1.08. 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 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. Synopsys’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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $630.09.

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.