Nations Financial Group Inc. IA ADV Has $568,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Nations Financial Group Inc. IA ADV lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,121 shares of the semiconductor company’s stock after purchasing an additional 46 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Synopsys were worth $568,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys during the 1st quarter worth approximately $218,000. Avantax Advisory Services Inc. grew its holdings in Synopsys by 22.7% in the first quarter. Avantax Advisory Services Inc. now owns 4,467 shares of the semiconductor company’s stock worth $2,553,000 after purchasing an additional 827 shares during the period. Kingsview Wealth Management LLC bought a new stake in Synopsys in the first quarter valued at $239,000. Blair William & Co. IL raised its holdings in shares of Synopsys by 12.2% during the first quarter. Blair William & Co. IL now owns 41,992 shares of the semiconductor company’s stock valued at $23,998,000 after purchasing an additional 4,579 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Synopsys by 37.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 585 shares of the semiconductor company’s stock valued at $334,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Loop Capital initiated coverage on Synopsys in a report on Monday. They set a “buy” rating and a $675.00 price objective for the company. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $649.82.

Synopsys Stock Performance

Synopsys stock opened at $557.96 on Thursday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s 50-day simple moving average is $509.95 and its 200 day simple moving average is $545.30. The stock has a market cap of $85.71 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.37 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 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $2.17 earnings per share. Synopsys’s revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Synopsys Company 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.