Great Valley Advisor Group Inc. Buys 177 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Great Valley Advisor Group Inc. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,594 shares of the semiconductor company’s stock after purchasing an additional 177 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Synopsys were worth $3,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Synopsys in the fourth quarter valued at $1,272,143,000. Swedbank AB bought a new position in Synopsys in the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD raised its stake in Synopsys by 39.6% in the first 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 buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its holdings in Synopsys by 91.6% in the first 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 period. Finally, Capital World Investors boosted its position in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNPS. Robert W. Baird raised their target price on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Piper Sandler raised their price objective on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average target price of $627.18.

Synopsys Trading Up 0.1 %

SNPS stock traded up $0.54 during midday trading on Wednesday, hitting $529.18. The company’s stock had a trading volume of 255,639 shares, compared to its average volume of 1,072,741. The firm’s 50-day moving average is $576.10 and its 200-day moving average is $566.43. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The company has a market cap of $81.08 billion, a PE ratio of 57.46, a P/E/G ratio of 3.39 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. Analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,658,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 81,363 shares of company stock worth $49,361,263 over the last quarter. Company insiders own 0.66% of the company’s stock.

Synopsys 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.