Arcadia Investment Management Corp MI Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Arcadia Investment Management Corp MI acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 100 shares of the semiconductor company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arizona State Retirement System raised its stake in Synopsys by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 44,223 shares of the semiconductor company’s stock valued at $26,315,000 after purchasing an additional 607 shares during the period. LGT Financial Advisors LLC raised its stake in Synopsys by 70.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 114 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 47 shares during the period. Waverton Investment Management Ltd raised its stake in Synopsys by 21.9% during the 2nd quarter. Waverton Investment Management Ltd now owns 274,452 shares of the semiconductor company’s stock valued at $163,288,000 after purchasing an additional 49,336 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Synopsys by 0.7% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 16,451 shares of the semiconductor company’s stock valued at $9,789,000 after acquiring an additional 116 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Synopsys by 74.8% in the 2nd quarter. Belpointe Asset Management LLC now owns 4,167 shares of the semiconductor company’s stock valued at $2,480,000 after purchasing an additional 1,783 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 4,212 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,623 shares of company stock valued at $45,147,321. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

SNPS has been the subject of several research reports. KeyCorp raised their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $630.09.

Synopsys Trading Down 0.6 %

NASDAQ SNPS traded down $2.96 during trading on Friday, hitting $473.07. 102,868 shares of the company traded hands, compared to its average volume of 1,076,048. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The business has a fifty day simple moving average of $552.67 and a 200 day simple moving average of $563.02. The company has a market capitalization of $72.67 billion, a P/E ratio of 51.74, a PEG ratio of 3.43 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $2.17 earnings per share. Equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal 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.