MRA Advisory Group Sells 33 Shares of Synopsys, Inc. (NASDAQ:SNPS)

MRA Advisory Group trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 434 shares of the semiconductor company’s stock after selling 33 shares during the quarter. MRA Advisory Group’s holdings in Synopsys were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SNPS. Norges Bank purchased a new stake in shares of Synopsys during the fourth quarter valued at $1,272,143,000. Swedbank AB bought a new position in Synopsys during the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

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

Synopsys Trading Down 2.5 %

NASDAQ SNPS opened at $463.97 on Friday. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The stock has a market cap of $71.27 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 3.15 and a beta of 1.08. The company’s 50 day moving average is $550.05 and its two-hundred day moving average is $562.51.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The disclosure for this sale can be found here. Insiders have sold 74,623 shares of company stock worth $45,147,321 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

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.