Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lifted by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 182.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96 shares of the semiconductor company’s stock after acquiring an additional 62 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Synopsys were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC acquired a new stake in shares of Synopsys during the first quarter worth $239,000. Concurrent Investment Advisors LLC acquired a new stake in Synopsys during the first quarter worth about $218,000. Bridgefront Capital LLC bought a new position in Synopsys in the fourth quarter worth about $951,000. Vanguard Group Inc. boosted its stake in Synopsys by 1.5% in 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 acquiring an additional 203,601 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold a total of 24,882 shares of company stock valued at $14,754,349 over the last three months. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Down 0.3 %

Shares of NASDAQ:SNPS opened at $495.41 on Friday. The company has a 50 day moving average of $513.05 and a 200-day moving average of $552.81. The firm has a market cap of $76.10 billion, a P/E ratio of 53.85, a P/E/G ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

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

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Robert W. Baird raised 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys 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 research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $638.00.

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.