Sheaff Brock Investment Advisors LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sheaff Brock Investment Advisors LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,496 shares of the semiconductor company’s stock after buying an additional 101 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Synopsys were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC raised its position in shares of 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 last quarter. Pacifica Partners Inc. purchased a new position in shares of Synopsys in the 3rd quarter worth about $25,000. Tsfg LLC increased its holdings 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 buying an additional 24 shares in the last quarter. Chris Bulman Inc bought a new position in Synopsys during the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $543.61 on Friday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a market cap of $83.50 billion, a P/E ratio of 56.88, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The business has a 50 day moving average price of $511.56 and a 200 day moving average price of $545.39.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results 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. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.17 earnings per share. As a group, analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SNPS shares. Loop Capital assumed coverage on Synopsys in a report on Monday. They issued a “buy” rating and a $675.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.