DRW Securities LLC Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

DRW Securities LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,655 shares of the semiconductor company’s stock, valued at approximately $985,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. 9258 Wealth Management LLC raised its stake in shares of Synopsys by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 32 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Synopsys by 49.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,782 shares of the semiconductor company’s stock worth $2,977,000 after buying an additional 1,901 shares during the last quarter. US Bancorp DE raised its position in Synopsys by 1.3% in the fourth quarter. US Bancorp DE now owns 42,487 shares of the semiconductor company’s stock worth $21,877,000 after acquiring an additional 558 shares during the period. Commerce Bank boosted its stake in Synopsys by 0.5% in the fourth quarter. Commerce Bank now owns 8,044 shares of the semiconductor company’s stock valued at $4,142,000 after acquiring an additional 37 shares during the last quarter. Finally, Team Hewins LLC bought a new position in shares of Synopsys during the 4th quarter valued at approximately $200,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $506.65 on Monday. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The company has a market capitalization of $77.63 billion, a P/E ratio of 55.07, a P/E/G ratio of 3.29 and a beta of 1.08. The firm’s 50 day simple moving average is $525.96 and its 200 day simple moving average is $556.52.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. 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 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated 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 directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the company’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 value of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction 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 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird lifted their target price 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. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Finally, KeyCorp boosted 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. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.