MRA Advisory Group Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

MRA Advisory Group cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 434 shares of the semiconductor company’s stock after selling 33 shares during the period. MRA Advisory Group’s holdings in Synopsys were worth $258,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNPS. Norges Bank bought a new position in shares of Synopsys during the 4th quarter valued at about $1,272,143,000. Swedbank AB bought a new position in Synopsys during the first quarter valued at approximately $1,051,637,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its holdings 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 worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Capital World Investors lifted its holdings 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 worth $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Synopsys Stock Down 2.5 %

NASDAQ:SNPS opened at $463.97 on Friday. The firm’s fifty day simple moving average is $550.05 and its 200 day simple moving average is $562.51. The stock has a market cap of $71.27 billion, a P/E ratio of 50.43, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 74,623 shares of company stock worth $45,147,321 over the last ninety days. 0.66% of the stock is owned by corporate insiders.

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.