Profund Advisors LLC Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Profund Advisors LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,290 shares of the semiconductor company’s stock after buying an additional 95 shares during the period. Profund Advisors LLC’s holdings in Synopsys were worth $8,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Circle Wealth Management LLC acquired a new stake in Synopsys in the 2nd quarter worth approximately $1,586,000. Kowal Investment Group LLC raised its holdings in shares of Synopsys by 15.8% in the second quarter. Kowal Investment Group LLC now owns 673 shares of the semiconductor company’s stock worth $400,000 after buying an additional 92 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Synopsys by 37.8% in the second quarter. Summit Trail Advisors LLC now owns 1,061 shares of the semiconductor company’s stock worth $631,000 after buying an additional 291 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Synopsys by 10.2% during the second quarter. Sei Investments Co. now owns 234,623 shares of the semiconductor company’s stock valued at $139,621,000 after buying an additional 21,765 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Synopsys by 1.7% in the 2nd quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock valued at $12,267,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $506.65 on Friday. The company has a market capitalization of $77.63 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. The company’s fifty day moving average price is $525.96 and its 200 day moving average price is $556.65. Synopsys, Inc. has a 1 year low of $440.62 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, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, KeyCorp increased their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $630.09.

Insider Activity

In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,177,544.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 27,753 shares of Synopsys stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock worth $44,616,637 over the last three months. 0.66% of the stock is currently owned by corporate insiders.

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.