RBA Wealth Management LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

RBA Wealth Management LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,126 shares of the semiconductor company’s stock after purchasing an additional 268 shares during the period. Synopsys accounts for about 2.2% of RBA Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. RBA Wealth Management LLC’s holdings in Synopsys were worth $5,634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the last quarter. Capital World Investors lifted its position in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 39.6% during the 1st 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 purchasing an additional 1,514,449 shares during the period. GQG Partners LLC grew its position in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Finally, Swedbank AB raised its position in Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’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 completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNPS. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday. KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $644.55.

Synopsys Trading Down 0.8 %

NASDAQ:SNPS traded down $4.18 during mid-day trading on Tuesday, hitting $501.41. The stock had a trading volume of 454,546 shares, compared to its average volume of 1,076,153. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38. The stock has a 50-day simple moving average of $511.71 and a two-hundred day simple moving average of $547.12. The company has a market capitalization of $77.02 billion, a PE ratio of 52.09, a PEG ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal 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.