Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Edge Capital Group LLC

Edge Capital Group LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 69.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the semiconductor company’s stock after acquiring an additional 492 shares during the quarter. Edge Capital Group LLC’s holdings in Synopsys were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC raised its position 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 last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Synopsys by 49.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,782 shares of the semiconductor company’s stock worth $2,977,000 after acquiring an additional 1,901 shares during the last quarter. US Bancorp DE lifted its position in shares of Synopsys by 1.3% in the fourth quarter. US Bancorp DE now owns 42,487 shares of the semiconductor company’s stock valued at $21,877,000 after acquiring an additional 558 shares in the last quarter. Commerce Bank lifted its position in shares of 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 in the last quarter. Finally, Team Hewins LLC acquired a new stake in shares of Synopsys during the fourth quarter valued at $200,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Finally, Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note 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 an average target price of $630.09.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. 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 quarter. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

NASDAQ 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 firm 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 business’s 50-day simple moving average is $525.96 and its 200-day simple moving average is $556.52.

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