Kovack Advisors Inc. Has $599,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Kovack Advisors Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,048 shares of the semiconductor company’s stock after purchasing an additional 24 shares during the quarter. Kovack Advisors Inc.’s holdings in Synopsys were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the 4th quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. WD Rutherford LLC bought a new position in Synopsys in the first quarter valued at about $40,000. Rise Advisors LLC acquired a new position in Synopsys during the first quarter worth about $46,000. Finally, Quarry LP lifted its holdings in shares of Synopsys by 63.1% in the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SNPS shares. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price target (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird increased their price target on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Finally, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average rating of “Buy” and an average price target of $625.82.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. Insiders sold a total of 36,232 shares of company stock worth $21,436,741 over the last three months. 0.66% of the stock is owned by company insiders.

Synopsys Stock Down 0.4 %

SNPS traded down $2.67 during midday trading on Thursday, hitting $606.99. 491,508 shares of the company were exchanged, compared to its average volume of 790,976. The firm has a market capitalization of $93.00 billion, a P/E ratio of 65.98, a P/E/G ratio of 3.93 and a beta of 1.07. The firm’s 50 day moving average price is $573.27 and its 200-day moving average price is $557.04. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38.

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