Marsico Capital Management LLC Has $141.03 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Marsico Capital Management LLC reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,996 shares of the semiconductor company’s stock after selling 3,219 shares during the quarter. Synopsys makes up approximately 4.2% of Marsico Capital Management LLC’s holdings, making the stock its 10th biggest position. Marsico Capital Management LLC’s holdings in Synopsys were worth $141,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys in the 1st quarter valued at approximately $218,000. Bridgefront Capital LLC bought a new position in shares of Synopsys in the fourth quarter valued at $951,000. Vanguard Group Inc. increased its holdings in Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after buying an additional 203,601 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on SNPS shares. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler reiterated 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, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $630.09.

Synopsys Trading Up 0.7 %

Shares of NASDAQ:SNPS opened at $502.25 on Wednesday. The stock has a market capitalization of $76.95 billion, a PE ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08. The firm has a 50 day moving average of $532.47 and a 200-day moving average of $558.06. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company earned $2.17 EPS. Synopsys’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s 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 transaction, the chief executive officer now directly 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. Over the last three months, insiders sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is currently owned by insiders.

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.