Fifth Third Wealth Advisors LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Fifth Third Wealth Advisors LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,347 shares of the semiconductor company’s stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC grew its position in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of Synopsys in the first quarter valued at approximately $26,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its stake 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 during the period. Finally, Activest Wealth Management bought a new stake in Synopsys during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $64,195,149.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,658,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $64,195,149.15. The disclosure for this sale can be found here. Insiders sold a total of 81,363 shares of company stock worth $49,361,263 in the last three months. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNPS. Piper Sandler increased their price target on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities lifted their target price on Synopsys from $615.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Robert W. Baird boosted their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, 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. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and an average target price of $629.00.

Synopsys Stock Up 1.4 %

Shares of SNPS traded up $7.65 during mid-day trading on Wednesday, reaching $564.68. The company’s stock had a trading volume of 865,800 shares, compared to its average volume of 1,063,547. The company has a market cap of $86.52 billion, a price-to-earnings ratio of 61.38, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. The business has a fifty day moving average of $572.65 and a 200 day moving average of $566.66. Synopsys, Inc. has a 1 year low of $433.82 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.76 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post 9.55 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.