Kintegral Advisory LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Kintegral Advisory LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 64.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,347 shares of the semiconductor company’s stock after buying an additional 2,087 shares during the period. Kintegral Advisory LLC’s holdings in Synopsys were worth $3,182,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC lifted its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp lifted its position in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Activest Wealth Management acquired a new position in Synopsys in the first quarter valued at about $35,000. Finally, Fortitude Family Office LLC lifted its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 2.3 %

Synopsys stock traded down $11.80 during mid-day trading on Wednesday, hitting $509.98. The company had a trading volume of 1,081,596 shares, compared to its average volume of 1,066,956. The stock has a market cap of $78.14 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 3.58 and a beta of 1.07. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38. The business has a fifty day moving average of $564.95 and a 200 day moving average of $565.56.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 earnings per share. Equities analysts anticipate that Synopsys, Inc. will post 9.55 earnings per share for the current year.

Insider Activity

In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The stock was 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 directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,623 shares of company stock valued at $45,147,321. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $630.09.

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.