Mather Group LLC. Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mather Group LLC. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,269 shares of the semiconductor company’s stock after buying an additional 115 shares during the quarter. Mather Group LLC.’s holdings in Synopsys were worth $1,868,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors boosted its holdings in shares of Synopsys by 12.5% in 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 purchasing an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after buying an additional 1,514,449 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Synopsys by 6.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after buying an additional 153,053 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Synopsys in the 4th quarter worth $1,272,143,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

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 completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Synopsys news, insider Geus Aart De sold 493 shares of Synopsys 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 transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last quarter. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Synopsys Stock Up 2.4 %

Shares of Synopsys stock traded up $11.55 on Tuesday, hitting $499.39. 1,480,891 shares of the company’s stock traded hands, compared to its average volume of 1,078,910. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The stock has a market cap of $76.51 billion, a P/E ratio of 54.28, a PEG ratio of 3.26 and a beta of 1.07. The firm’s 50-day moving average is $582.86 and its 200 day moving average is $567.37.

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 for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current year.

Synopsys Company 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.