Synopsys, Inc. (NASDAQ:SNPS) Holdings Boosted by Tamar Securities LLC

Tamar Securities LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 28.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,223 shares of the semiconductor company’s stock after acquiring an additional 9,870 shares during the quarter. Synopsys accounts for approximately 3.1% of Tamar Securities LLC’s holdings, making the stock its 10th biggest holding. Tamar Securities LLC’s holdings in Synopsys were worth $22,394,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. ORG Partners LLC boosted its stake 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 in the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC boosted its stake 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 in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $501.35 on Thursday. The company has a market capitalization of $76.81 billion, a PE ratio of 54.49, a P/E/G ratio of 3.64 and a beta of 1.08. The company has a fifty day moving average of $512.58 and a 200 day moving average of $548.71. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 earnings per share. Research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SNPS shares. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday. They set a “buy” rating and a $660.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $644.00.

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.