Fortitude Family Office LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 66.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60 shares of the semiconductor company’s stock after buying an additional 24 shares during the quarter. Fortitude Family Office LLC’s holdings in Synopsys were worth $36,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $1,272,143,000. Swedbank AB bought a new stake in Synopsys during the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.
Synopsys Stock Performance
SNPS traded up $25.06 during trading on Thursday, hitting $515.03. The stock had a trading volume of 1,090,237 shares, compared to its average volume of 1,084,541. The firm has a market capitalization of $78.91 billion, a P/E ratio of 54.92, a PEG ratio of 3.26 and a beta of 1.07. The company’s 50-day moving average price is $579.28 and its 200 day moving average price is $566.71. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SNPS. Piper Sandler raised their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird lifted their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average target price of $627.18.
Check Out Our Latest Stock Report on Synopsys
Insider Activity
In other news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’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 sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mercedes Johnson sold 5,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the sale, the director now owns 1,543 shares in the company, valued at $897,069.34. The disclosure for this sale can be found here. In the last three months, insiders sold 81,363 shares of company stock worth $49,361,263. 0.66% of the stock is currently owned by 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.
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