ROI Financial Advisors LLC Acquires New Shares in Synopsys, Inc. (NASDAQ:SNPS)

ROI Financial Advisors LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 3rd quarter, HoldingsChannel reports. The firm bought 652 shares of the semiconductor company’s stock, valued at approximately $330,000.

Several other hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC boosted its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Pacifica Partners Inc. bought a new position in shares of Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC grew its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc bought a new position in Synopsys in the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SNPS shares. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Loop Capital started coverage on Synopsys in a research note on Monday. They issued a “buy” rating and a $675.00 target price for the company. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler cut their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Trading Up 0.8 %

Shares of SNPS opened at $557.96 on Thursday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm’s 50-day moving average price is $509.95 and its 200-day moving average price is $545.30. The firm has a market capitalization of $85.71 billion, a price-to-earnings ratio of 57.88, a PEG ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. On average, research analysts forecast that Synopsys, Inc. will post 9.45 EPS 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.