Integrated Advisors Network LLC Has $874,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Integrated Advisors Network LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 243.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,726 shares of the semiconductor company’s stock after acquiring an additional 1,223 shares during the period. Integrated Advisors Network LLC’s holdings in Synopsys were worth $874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC boosted its stake 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 period. Pacifica Partners Inc. acquired a new position in Synopsys in the 3rd quarter worth $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc acquired a new position in Synopsys in the 2nd quarter worth $30,000. Finally, Fortitude Family Office LLC boosted its stake in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SNPS shares. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Robert W. Baird boosted 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. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler cut their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $643.00.

Synopsys Stock Performance

Shares of SNPS stock opened at $536.42 on Thursday. The firm’s 50-day moving average is $506.07 and its 200-day moving average is $544.36. The stock has a market cap of $82.40 billion, a price-to-earnings ratio of 55.65, a PEG ratio of 3.52 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

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

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.