Burr Financial Services LLC Has $2.83 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Burr Financial Services LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,586 shares of the semiconductor company’s stock after purchasing an additional 256 shares during the period. Synopsys accounts for approximately 2.0% of Burr Financial Services LLC’s investment portfolio, making the stock its 11th biggest holding. Burr Financial Services LLC’s holdings in Synopsys were worth $2,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. ORG Partners LLC boosted its holdings in shares of Synopsys by 600.0% during the 2nd 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. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter worth approximately $30,000. Pacifica Partners Inc. bought a new stake in Synopsys during the 3rd quarter worth approximately $25,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler dropped their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $643.00.

Synopsys Stock Performance

Shares of SNPS stock opened at $536.42 on Thursday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market capitalization of $82.40 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. The business’s fifty day moving average is $506.07 and its 200 day moving average is $544.36.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $2.17 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents 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. Company 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.