Fortitude Family Office LLC Has $36,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fortitude Family Office LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) 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.

Synopsys (NASDAQ:SNPS) last released its 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). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $1.76 earnings per share. As a group, equities analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

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.

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.