Synopsys, Inc. (NASDAQ:SNPS) Stock Position Increased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 65.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,561 shares of the semiconductor company’s stock after buying an additional 8,100 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Synopsys were worth $12,235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SNPS. ORG Partners LLC raised 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 worth $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc acquired a new position in Synopsys in the second quarter worth approximately $30,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the fourth quarter valued at $28,000. Jones Financial Companies Lllp lifted 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 valued at $31,000 after acquiring an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC grew 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 acquiring an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred 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 directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred 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 $66,393,649.80. The disclosure for this sale can be found here. Insiders sold 52,635 shares of company stock worth $31,921,800 over the last ninety days. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average target price of $638.00.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $495.56 on Wednesday. Synopsys, Inc. has a one year low of $448.26 and a one year high of $629.38. The business’s 50-day moving average price is $515.05 and its two-hundred day moving average price is $553.60. The company has a market capitalization of $76.12 billion, a P/E ratio of 53.87, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 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 return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS 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.