Talbot Financial LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Talbot Financial LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,355 shares of the semiconductor company’s stock after purchasing an additional 1,370 shares during the period. Synopsys makes up approximately 1.4% of Talbot Financial LLC’s investment portfolio, making the stock its 26th biggest position. Talbot Financial LLC’s holdings in Synopsys were worth $11,827,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys during the 1st quarter worth approximately $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys during the first quarter valued at $218,000. Bridgefront Capital LLC purchased a new position in shares of Synopsys in the 4th quarter worth $951,000. Vanguard Group Inc. raised its position in shares of Synopsys by 1.5% during the 4th 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 in the last quarter. Finally, Jacobs & Co. CA bought a new position in shares of Synopsys in the 3rd quarter valued at about $10,554,000. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

NASDAQ SNPS opened at $517.76 on Wednesday. The company has a market cap of $79.33 billion, a PE ratio of 56.28, a P/E/G ratio of 3.28 and a beta of 1.08. The firm’s 50 day moving average price is $511.05 and its 200-day moving average price is $551.13. Synopsys, Inc. has a 52-week low of $448.91 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 business had revenue of $1.53 billion for 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 business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $2.17 EPS. On average, analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNPS. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird raised their price objective 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. Finally, KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $638.00.

Synopsys 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.