Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,451 shares of the semiconductor company’s stock after acquiring an additional 116 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Synopsys were worth $9,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Partners LLC boosted its holdings in shares of 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 during the period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Activest Wealth Management acquired a new stake in shares of Synopsys during the 1st quarter worth approximately $35,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Geus Aart De sold 493 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,623 shares of company stock worth $45,147,321. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $476.03 on Friday. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38. The business has a 50 day moving average price of $552.67 and a 200 day moving average price of $563.02. The firm has a market cap of $73.12 billion, a P/E ratio of 51.74, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The business 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%. Synopsys’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $2.17 EPS. As a group, analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.