S. R. Schill & Associates Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

S. R. Schill & Associates bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 535 shares of the semiconductor company’s stock, valued at approximately $318,000.

Several other institutional investors have also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC purchased a new stake in Synopsys in the first quarter worth $26,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Synopsys during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its holdings in Synopsys by 233.3% in the fourth 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 bought a new position in shares of Synopsys during the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC raised its stake in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS traded down $3.89 on Monday, reaching $520.84. The company’s stock had a trading volume of 623,221 shares, compared to its average volume of 1,080,042. The stock’s 50 day simple moving average is $577.57 and its two-hundred day simple moving average is $566.53. The stock has a market capitalization of $79.80 billion, a P/E ratio of 56.61, a PEG ratio of 3.22 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.76 EPS. The company’s revenue was up 15.2% on a year-over-year basis. Analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNPS. KeyCorp increased their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler lifted their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $627.18.

Insider Buying and Selling

In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,363 shares of company stock valued at $49,361,263. 0.66% of the stock is owned by corporate 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.