Apollon Wealth Management LLC Buys 214 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Apollon Wealth Management LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,505 shares of the semiconductor company’s stock after acquiring an additional 214 shares during the period. Apollon Wealth Management LLC’s holdings in Synopsys were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Swedbank AB bought a new position in Synopsys in the 1st quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD increased its position in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC raised its holdings in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors grew its position in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value 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 $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $557.96 on Thursday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a 50-day simple moving average of $509.95 and a 200 day simple moving average of $545.30. The company has a market cap of $85.71 billion, a PE ratio of 57.88, a PEG ratio of 3.37 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNPS. Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Loop Capital began coverage on Synopsys in a report on Monday. They issued a “buy” rating and a $675.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $649.82.

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.