Rhumbline Advisers Purchases 2,270 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Rhumbline Advisers boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 298,967 shares of the semiconductor company’s stock after acquiring an additional 2,270 shares during the period. Rhumbline Advisers owned 0.20% of Synopsys worth $177,903,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings 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 acquiring an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp boosted its holdings 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 acquiring an additional 42 shares during the last quarter. Fortitude Family Office LLC boosted its holdings 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 acquiring an additional 24 shares during the last quarter. Finally, Activest Wealth Management bought a new position in Synopsys in the first quarter valued at about $35,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNPS. KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus target price of $630.09.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,623 shares of company stock valued at $45,147,321. 0.66% of the stock is owned by insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $519.58 on Tuesday. The firm has a market cap of $79.61 billion, a P/E ratio of 56.48, a P/E/G ratio of 3.43 and a beta of 1.07. The stock’s 50-day moving average is $559.85 and its 200-day moving average is $564.74. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm earned $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

About Synopsys

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.