S. R. Schill & Associates Buys Shares of 535 Synopsys, Inc. (NASDAQ:SNPS)

S. R. Schill & Associates purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, HoldingsChannel reports. The firm purchased 535 shares of the semiconductor company’s stock, valued at approximately $318,000.

A number of other hedge funds have also modified their holdings of the business. Bay Harbor Wealth Management LLC purchased a new position in Synopsys during the first quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its position in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Activest Wealth Management acquired a new stake in Synopsys in the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler raised their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird raised their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $627.18.

Synopsys Trading Down 0.7 %

NASDAQ:SNPS traded down $3.89 during trading hours on Monday, hitting $520.84. The company’s stock had a trading volume of 623,221 shares, compared to its average volume of 1,080,042. The stock has a market capitalization of $79.80 billion, a P/E ratio of 56.61, a price-to-earnings-growth ratio of 3.22 and a beta of 1.07. The stock has a fifty day moving average of $577.57 and a 200-day moving average of $566.53. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $1.76 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insider Activity

In other news, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. In the last three months, insiders sold 81,363 shares of company stock valued at $49,361,263. Insiders own 0.66% of the company’s stock.

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.