Advisor Resource Council Invests $604,000 in Synopsys, Inc. (NASDAQ:SNPS)

Advisor Resource Council bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,192 shares of the semiconductor company's stock, valued at approximately $604,000.

Several other large investors also recently made changes to their positions in the business. Norden Group LLC boosted its holdings in Synopsys by 24.3% in the first quarter. Norden Group LLC now owns 567 shares of the semiconductor company's stock valued at $324,000 after acquiring an additional 111 shares during the last quarter. Jennison Associates LLC raised its holdings in Synopsys by 33.2% in the first quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company's stock worth $5,458,000 after purchasing an additional 2,379 shares during the period. Advisory Alpha LLC acquired a new stake in Synopsys in the first quarter worth $207,000. Gallacher Capital Management LLC bought a new stake in shares of Synopsys during the first quarter worth $201,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Synopsys by 43.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,587 shares of the semiconductor company's stock worth $6,622,000 after acquiring an additional 3,505 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares of the company's stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. Robert W. Baird raised their target price 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. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $643.00.

Synopsys Stock Up 3.7 %

SNPS traded up $20.44 during trading on Thursday, hitting $573.59. 1,097,618 shares of the company's stock were exchanged, compared to its average volume of 1,068,097. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a market cap of $88.11 billion, a P/E ratio of 59.51, a PEG ratio of 3.20 and a beta of 1.08. The business's 50 day moving average is $505.80 and its two-hundred day moving average is $544.28.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 EPS. The business's revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Synopsys 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.