Financial Advocates Investment Management Sells 971 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Financial Advocates Investment Management cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 47.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063 shares of the semiconductor company’s stock after selling 971 shares during the quarter. Financial Advocates Investment Management’s holdings in Synopsys were worth $633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC lifted its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys during the fourth quarter worth $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Synopsys during the first quarter worth $35,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 2.7 %

Synopsys stock traded up $13.78 during midday trading on Thursday, reaching $523.76. The company’s stock had a trading volume of 238,427 shares, compared to its average volume of 1,062,012. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The business has a 50-day moving average price of $564.95 and a 200-day moving average price of $565.56. The stock has a market cap of $80.25 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 9.55 EPS for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp lifted 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $630.09.

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 transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on 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 $34,655,789.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,623 shares of company stock worth $45,147,321. 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.