Fortis Capital Advisors LLC Takes $295,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Fortis Capital Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 516 shares of the semiconductor company’s stock, valued at approximately $295,000.

Several other hedge funds have also bought and sold shares of SNPS. Norges Bank acquired a new stake in Synopsys in the 4th quarter valued at about $1,272,143,000. Global Assets Advisory LLC acquired a new stake in Synopsys in the 1st quarter valued at about $282,876,000. Van ECK Associates Corp lifted its stake in Synopsys by 25.0% in the 1st quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after purchasing an additional 232,731 shares during the last quarter. Vanguard Group Inc. lifted its stake in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Synopsys by 52,466.9% in the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after purchasing an additional 175,764 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird raised their price objective on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Piper Sandler raised their price objective on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and an average price target of $627.18.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction on Monday, July 15th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock valued at $49,361,263 over the last three months. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $10.00 during midday trading on Thursday, reaching $560.38. The company’s stock had a trading volume of 1,203,431 shares, compared to its average volume of 1,061,621. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The business’s 50 day moving average price is $589.18 and its two-hundred day moving average price is $562.59. The company has a market cap of $85.86 billion, a P/E ratio of 60.15, a P/E/G ratio of 3.96 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

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.