Kestra Investment Management LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Kestra Investment Management LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,316 shares of the semiconductor company’s stock, valued at approximately $783,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Chris Bulman Inc purchased a new position in Synopsys during the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its stake in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 55,424 shares of company stock valued at $33,625,711 over the last quarter. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $506.39 on Tuesday. The stock has a 50-day simple moving average of $516.90 and a 200-day simple moving average of $553.99. Synopsys, Inc. has a 1 year low of $448.26 and a 1 year high of $629.38. The stock has a market cap of $77.59 billion, a P/E ratio of 55.04, a P/E/G ratio of 3.34 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last released 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. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNPS shares. JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective 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 research note on Thursday, August 22nd. Finally, KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $638.00.

Get Our Latest Report on SNPS

About Synopsys

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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