Kovack Advisors Inc. Acquires 155 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Kovack Advisors Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,024 shares of the semiconductor company’s stock after buying an additional 155 shares during the period. Kovack Advisors Inc.’s holdings in Synopsys were worth $527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Synopsys during the third quarter worth $26,000. Venturi Wealth Management LLC acquired a new position in shares of Synopsys during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $29,000. Catalyst Capital Advisors LLC lifted its stake in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in Synopsys during the fourth quarter worth about $56,000. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 2.6 %

SNPS opened at $543.66 on Monday. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 59.87, a P/E/G ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a twelve month low of $362.06 and a twelve month high of $629.38. The company has a 50-day simple moving average of $563.73 and a 200 day simple moving average of $536.58.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The company 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 quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 EPS. Sell-side analysts anticipate that Synopsys, Inc. will post 9.78 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.