Sunbelt Securities Inc. Acquires 105 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sunbelt Securities Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 552.6% in the 1st quarter, HoldingsChannel reports. The firm owned 124 shares of the semiconductor company’s stock after purchasing an additional 105 shares during the quarter. Sunbelt Securities Inc.’s holdings in Synopsys were worth $71,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp raised its stake in shares of Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Synopsys during the first quarter worth approximately $46,000. Quarry LP grew its stake in shares of Synopsys by 63.1% during the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 41 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. KeyCorp lifted their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price of $624.36.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,658 shares of company stock valued at $20,970,824. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $595.06 on Monday. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The firm has a market capitalization of $91.18 billion, a price-to-earnings ratio of 64.68, a PEG ratio of 3.84 and a beta of 1.08. The company’s 50 day simple moving average is $569.90 and its 200 day simple moving average is $556.31.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.76 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

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.