Mather Group LLC. Buys 115 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mather Group LLC. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,269 shares of the semiconductor company’s stock after acquiring an additional 115 shares during the period. Mather Group LLC.’s holdings in Synopsys were worth $1,868,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SNPS. Bay Harbor Wealth Management LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at $26,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys during the fourth quarter worth about $28,000. Jones Financial Companies Lllp increased 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 valued at $31,000 after acquiring an additional 42 shares in the last quarter. Activest Wealth Management acquired a new stake in Synopsys in the 1st quarter worth approximately $35,000. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,177,544.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 27,753 shares of the business’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 transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The disclosure for this sale can be found here. In the last three months, insiders sold 81,363 shares of company stock worth $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler lifted their price target on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. KeyCorp increased their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird lifted their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $627.18.

Synopsys Trading Up 2.4 %

Shares of Synopsys stock traded up $11.55 during trading hours on Tuesday, reaching $499.39. The stock had a trading volume of 1,480,891 shares, compared to its average volume of 1,078,910. The stock’s 50 day moving average is $582.86 and its 200 day moving average is $567.37. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a market capitalization of $76.51 billion, a PE ratio of 54.28, a PEG ratio of 3.26 and a beta of 1.07.

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 analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current 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.