429 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 429 shares of the semiconductor company’s stock, valued at approximately $255,000.

Other large investors have also modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of Synopsys during the 1st quarter worth $239,000. Concurrent Investment Advisors LLC bought a new stake in Synopsys in the 1st quarter valued at $218,000. Bridgefront Capital LLC bought a new stake in Synopsys in the 4th quarter valued at $951,000. Vanguard Group Inc. boosted its holdings in Synopsys by 1.5% in 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 purchasing an additional 203,601 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in Synopsys by 44.9% in the 1st 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 period. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 0.5 %

Shares of Synopsys stock opened at $519.58 on Friday. The stock has a market capitalization of $79.81 billion, a P/E ratio of 56.48, a price-to-earnings-growth ratio of 3.47 and a beta of 1.07. The company has a 50-day simple moving average of $563.09 and a 200 day simple moving average of $565.22. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.17 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post 9.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNPS. Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird increased 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. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased 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. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders sold 74,623 shares of company stock worth $45,147,321 in the last quarter. 0.66% of the stock is owned by corporate insiders.

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.