Oxinas Partners Wealth Management LLC Has $309,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Oxinas Partners Wealth Management LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 540 shares of the semiconductor company’s stock after selling 210 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Synopsys were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. State of Michigan Retirement System lifted its stake in shares of Synopsys by 0.5% in the first quarter. State of Michigan Retirement System now owns 41,827 shares of the semiconductor company’s stock valued at $23,904,000 after buying an additional 200 shares during the period. Talbot Financial LLC lifted its position in shares of Synopsys by 2.7% in the 1st quarter. Talbot Financial LLC now owns 21,660 shares of the semiconductor company’s stock worth $12,379,000 after acquiring an additional 572 shares during the period. Kowal Investment Group LLC grew its holdings in shares of Synopsys by 26.0% during the 1st quarter. Kowal Investment Group LLC now owns 581 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 120 shares in the last quarter. Wolff Wiese Magana LLC increased its position in shares of Synopsys by 19.3% during the first quarter. Wolff Wiese Magana LLC now owns 976 shares of the semiconductor company’s stock valued at $558,000 after purchasing an additional 158 shares during the period. Finally, Chapin Davis Inc. raised its stake in shares of Synopsys by 7.9% in the first quarter. Chapin Davis Inc. now owns 1,834 shares of the semiconductor company’s stock valued at $1,048,000 after purchasing an additional 134 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction that occurred on 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 owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,551 shares of company stock valued at $24,518,410. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Finally, KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $625.82.

Synopsys Stock Up 1.3 %

SNPS stock traded up $7.91 during midday trading on Tuesday, reaching $609.66. 531,435 shares of the company’s stock traded hands, compared to its average volume of 1,092,475. The company has a 50-day simple moving average of $571.62 and a two-hundred day simple moving average of $556.66. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The company has a market cap of $93.41 billion, a price-to-earnings ratio of 66.27, a PEG ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its 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). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current 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.