Livforsakringsbolaget Skandia Omsesidigt Acquires 1,758 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 49.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,314 shares of the semiconductor company’s stock after buying an additional 1,758 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Synopsys were worth $2,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. ORG Partners LLC lifted its holdings in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc bought a new position in shares of Synopsys in the second quarter valued at approximately $30,000. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter worth $25,000. Fortitude Family Office LLC boosted its holdings in shares of Synopsys by 66.7% during 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 period. Finally, Hobbs Group Advisors LLC acquired a new position in Synopsys in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

Shares of SNPS stock opened at $539.92 on Friday. Synopsys, Inc. has a one year low of $448.91 and a one year high of $629.38. The stock has a fifty day moving average price of $510.84 and a 200 day moving average price of $549.78. The stock has a market cap of $82.72 billion, a P/E ratio of 58.69, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping 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 revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $2.17 EPS. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNPS shares. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp raised 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. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $642.22.

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.