Sycomore Asset Management Purchases 8,240 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sycomore Asset Management boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 86.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,748 shares of the semiconductor company’s stock after acquiring an additional 8,240 shares during the period. Synopsys accounts for 1.9% of Sycomore Asset Management’s investment portfolio, making the stock its 19th biggest position. Sycomore Asset Management’s holdings in Synopsys were worth $10,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its holdings in Synopsys by 2.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,372 shares of the semiconductor company’s stock valued at $1,221,000 after purchasing an additional 53 shares during the period. Stifel Financial Corp increased its stake in shares of Synopsys by 22.7% during the fourth quarter. Stifel Financial Corp now owns 28,116 shares of the semiconductor company’s stock valued at $14,477,000 after buying an additional 5,205 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $219,000. Jones Financial Companies Lllp lifted its stake in 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 period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Synopsys by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 166,066 shares of the semiconductor company’s stock valued at $85,513,000 after acquiring an additional 1,498 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $638.00.

Synopsys Trading Down 1.3 %

Synopsys stock opened at $506.39 on Tuesday. The company has a market capitalization of $77.59 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.26 and a 12 month high of $629.38. The business’s fifty day simple moving average is $516.90 and its two-hundred day simple moving average is $553.99.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on 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 directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,424 shares of company stock valued at $33,625,711. Corporate insiders own 0.66% of the company’s stock.

Synopsys Company 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.