Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lessened by Advisor Resource Council

Advisor Resource Council lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 68.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,066 shares of the semiconductor company’s stock after selling 2,336 shares during the period. Advisor Resource Council’s holdings in Synopsys were worth $609,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the fourth quarter valued at $28,000. Jones Financial Companies Lllp increased its holdings in shares of 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 in the last quarter. WD Rutherford LLC bought a new position in shares of Synopsys in the first quarter valued at $40,000. Rise Advisors LLC bought a new position in shares of Synopsys in the first quarter valued at $46,000. Finally, Quarry LP increased its holdings in shares of Synopsys by 63.1% in the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 41 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 5,893 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $602.00, for a total value of $3,547,586.00. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $64,403,766. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 5,893 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $602.00, for a total transaction of $3,547,586.00. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,403,766. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,232 shares of company stock worth $21,436,741. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 0.4 %

SNPS stock traded down $2.67 during mid-day trading on Thursday, reaching $606.99. 491,508 shares of the stock traded hands, compared to its average volume of 790,976. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The business has a 50-day moving average of $573.27 and a two-hundred day moving average of $557.04. The firm has a market capitalization of $93.00 billion, a PE ratio of 65.98, a P/E/G ratio of 3.93 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.76 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Robert W. Baird upped their price objective on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has an average rating of “Buy” and an average target price of $625.82.

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.