Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lifted by SteelPeak Wealth LLC

SteelPeak Wealth LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 66.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,000 shares of the semiconductor company’s stock after buying an additional 400 shares during the period. SteelPeak Wealth LLC’s holdings in Synopsys were worth $572,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. 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 raised its stake in 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 purchasing an additional 42 shares during the period. WD Rutherford LLC acquired a new stake in Synopsys during the 1st quarter valued at $40,000. Rise Advisors LLC acquired a new stake in Synopsys during the 1st quarter valued at $46,000. Finally, Quarry LP raised its stake in Synopsys by 63.1% during the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 41 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNPS shares. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird boosted their target price on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $624.36.

Synopsys Price Performance

NASDAQ:SNPS traded up $0.06 during trading hours on Friday, reaching $595.06. The company’s stock had a trading volume of 1,019,091 shares, compared to its average volume of 868,943. The company has a market cap of $91.18 billion, a price-to-earnings ratio of 64.68, a price-to-earnings-growth ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The business’s 50-day moving average is $569.90 and its 200-day moving average is $556.31.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock worth $20,970,824 over the last ninety days. Company insiders own 0.66% of the company’s stock.

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.