Financial Advocates Investment Management Has $575,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Financial Advocates Investment Management boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136 shares of the semiconductor company’s stock after acquiring an additional 73 shares during the quarter. Financial Advocates Investment Management’s holdings in Synopsys were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Partners LLC lifted its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $25,000. Tsfg LLC grew its position in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc acquired a new stake in Synopsys during the 2nd quarter valued at $30,000. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.9 %

Shares of SNPS opened at $518.40 on Friday. The stock has a market cap of $79.63 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 3.61 and a beta of 1.08. The stock’s 50-day moving average price is $504.96 and its two-hundred day moving average price is $543.99. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 earnings per share. As a group, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on SNPS shares. Piper Sandler decreased their target price on 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. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Finally, Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and an average target price of $643.00.

About Synopsys

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.