Patriot Financial Group Insurance Agency LLC Invests $206,000 in Synopsys, Inc. (NASDAQ:SNPS)

Patriot Financial Group Insurance Agency LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 346 shares of the semiconductor company’s stock, valued at approximately $206,000.

Several other large investors have also modified their holdings of the stock. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys in the fourth quarter valued at $28,000. Jones Financial Companies Lllp grew its position 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 purchasing an additional 42 shares during the period. Activest Wealth Management purchased a new stake in Synopsys during the first quarter valued at about $35,000. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related news, insider Geus Aart De sold 5,448 shares of the stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is available at this link. In related news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 approximately $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,623 shares of company stock worth $45,147,321. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp lifted 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $630.09.

Synopsys Trading Down 1.9 %

SNPS stock traded down $10.01 during trading on Wednesday, hitting $511.77. The company had a trading volume of 302,509 shares, compared to its average volume of 1,062,274. The company has a fifty day moving average price of $569.13 and a two-hundred day moving average price of $566.33. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The company has a market cap of $78.41 billion, a P/E ratio of 55.45, a P/E/G ratio of 3.58 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $2.17 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 9.55 earnings per share for the current year.

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.