Nicholas Investment Partners LP Buys 458 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nicholas Investment Partners LP boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,137 shares of the semiconductor company’s stock after acquiring an additional 458 shares during the period. Synopsys accounts for about 1.1% of Nicholas Investment Partners LP’s holdings, making the stock its 25th biggest position. Nicholas Investment Partners LP’s holdings in Synopsys were worth $10,198,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its holdings 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 period. Chris Bulman Inc purchased a new position in shares of Synopsys during the 2nd quarter valued at $30,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the 4th quarter worth $28,000. Jones Financial Companies Lllp increased its holdings in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC raised 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 valued at $36,000 after acquiring an additional 24 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research reports. KeyCorp increased their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Finally, Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 over the last 90 days. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 3.4 %

Shares of NASDAQ SNPS opened at $481.50 on Thursday. The business has a 50-day moving average of $541.91 and a 200-day moving average of $560.49. The firm has a market capitalization of $73.77 billion, a price-to-earnings ratio of 52.34, a PEG ratio of 3.06 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38.

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