Thoroughbred Financial Services LLC Has $2.01 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Thoroughbred Financial Services LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 190.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,375 shares of the semiconductor company’s stock after acquiring an additional 2,212 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Synopsys were worth $2,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Synopsys during the fourth quarter worth $1,272,143,000. Swedbank AB bought a new position in shares of Synopsys in the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD increased 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 worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Synopsys by 91.6% in 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 purchasing an additional 1,001,371 shares during the period. Finally, Sustainable Growth Advisers LP acquired a new stake in Synopsys in the 2nd quarter valued at about $572,050,000. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Shares of SNPS stock opened at $490.07 on Friday. The stock has a market capitalization of $75.28 billion, a PE ratio of 53.27, a PEG ratio of 3.18 and a beta of 1.08. The business’s 50 day simple moving average is $536.92 and its 200 day simple moving average is $559.29. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $630.09.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. 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.