HBW Advisory Services LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

HBW Advisory Services LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 523 shares of the semiconductor company’s stock, valued at approximately $265,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in shares of Synopsys during the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its stake in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors raised its stake in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $499.12 on Friday. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The stock has a market cap of $76.67 billion, a PE ratio of 54.25, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08. The firm has a fifty day moving average price of $512.11 and a 200 day moving average price of $552.15.

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

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,882 shares of company stock worth $14,754,349. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNPS. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. 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 an average target price of $638.00.

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.