Waldron Private Wealth LLC Buys 1,055 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Waldron Private Wealth LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 215.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,544 shares of the semiconductor company’s stock after purchasing an additional 1,055 shares during the quarter. Waldron Private Wealth LLC’s holdings in Synopsys were worth $782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new position in Synopsys during the first quarter valued at $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys during the 1st quarter valued at about $218,000. Jacobs & Co. CA purchased a new stake in Synopsys in the 3rd quarter worth about $10,554,000. Vontobel Holding Ltd. raised its position in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after purchasing an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $502.41 on Wednesday. The business’s 50-day moving average is $511.19 and its two-hundred day moving average is $546.60. The company has a market capitalization of $77.18 billion, a P/E ratio of 52.12, a P/E/G ratio of 3.47 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

SNPS has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Tuesday. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $644.55.

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.