Wealth Alliance Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Wealth Alliance trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 709 shares of the semiconductor company’s stock after selling 32 shares during the period. Wealth Alliance’s holdings in Synopsys were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Synopsys in the third quarter worth $26,000. Freedom Wealth Alliance LLC purchased a new stake in Synopsys during the 4th quarter worth about $26,000. Venturi Wealth Management LLC bought a new position in Synopsys in the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Synopsys during the 3rd quarter valued at about $29,000. Finally, VitalStone Financial LLC bought a new stake in shares of Synopsys during the first quarter valued at about $30,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird raised their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler began coverage on Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $601.00.

Synopsys Trading Down 1.5 %

Shares of Synopsys stock opened at $519.71 on Friday. The business’s 50-day moving average price is $567.95 and its 200-day moving average price is $533.42. The firm has a market capitalization of $79.26 billion, a PE ratio of 57.24, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 earnings per share. As a group, analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

About Synopsys

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.