Gryphon Financial Partners LLC Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

Gryphon Financial Partners LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 36.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900 shares of the semiconductor company’s stock after acquiring an additional 238 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Synopsys were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC raised its position in shares of Synopsys by 15.2% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 674 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 89 shares during the period. Invesco LLC raised its position in shares of Synopsys by 3.0% in the second quarter. Invesco LLC now owns 2,310 shares of the semiconductor company’s stock valued at $1,375,000 after purchasing an additional 68 shares during the period. LGT Fund Management Co Ltd. bought a new stake in shares of Synopsys in the second quarter valued at approximately $283,000. Choreo LLC bought a new stake in Synopsys during the 2nd quarter worth approximately $2,423,000. Finally, Wedbush Securities Inc. increased its holdings in Synopsys by 9.8% during the 2nd quarter. Wedbush Securities Inc. now owns 9,384 shares of the semiconductor company’s stock worth $5,584,000 after acquiring an additional 839 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average price target of $630.09.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $465.50 on Wednesday. The company’s fifty day moving average price is $544.42 and its 200-day moving average price is $561.04. The firm has a market capitalization of $71.51 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 3.06 and a beta of 1.08. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other news, insider Geus Aart De sold 493 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,687 shares of company stock valued at $44,616,637. Corporate insiders own 0.66% of the company’s stock.

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.