OneDigital Investment Advisors LLC Buys 575 Shares of Synopsys, Inc. (NASDAQ:SNPS)

OneDigital Investment Advisors LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 28.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,581 shares of the semiconductor company’s stock after purchasing an additional 575 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Synopsys were worth $1,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Andina Capital Management LLC raised its holdings in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC boosted its position in Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares during the period. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Hilltop National Bank increased its stake in Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after purchasing an additional 21 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 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 owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.6 %

NASDAQ:SNPS opened at $523.98 on Tuesday. The stock has a 50-day moving average price of $515.34 and a 200 day moving average price of $545.52. The stock has a market capitalization of $80.49 billion, a P/E ratio of 54.35, a P/E/G ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Piper Sandler dropped their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus price target of $649.82.

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.