Transcend Capital Advisors LLC Purchases Shares of 1,391 Synopsys, Inc. (NASDAQ:SNPS)

Transcend Capital Advisors LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,391 shares of the semiconductor company’s stock, valued at approximately $828,000.

A number of other institutional investors have also made changes to their positions in the business. Coldstream Capital Management Inc. lifted its position in shares of Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP increased its holdings in Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after buying an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after buying an additional 20 shares during the last quarter. Ignite Planners LLC increased its holdings in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after buying an additional 20 shares during the last quarter. Finally, Monument Capital Management increased its holdings in Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 81,363 shares of company stock valued at $49,361,263 over the last quarter. 0.66% of the stock is owned by company insiders.

Synopsys Stock Down 2.9 %

Shares of Synopsys stock traded down $14.49 during trading on Monday, reaching $491.29. The company’s stock had a trading volume of 886,920 shares, compared to its average volume of 1,068,363. The business’s 50-day moving average price is $584.85 and its 200-day moving average price is $567.42. The firm has a market cap of $75.28 billion, a PE ratio of 54.98, a P/E/G ratio of 3.49 and a beta of 1.07. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38.

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

Analysts Set New Price Targets

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

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.