Crewe Advisors LLC Takes $81,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Crewe Advisors LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 141 shares of the semiconductor company’s stock, valued at approximately $81,000.

Several other institutional investors have also recently made changes to their positions in SNPS. abrdn plc lifted its holdings in shares of Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after buying an additional 30,581 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $218,000. Kingsview Wealth Management LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $239,000. Bridgefront Capital LLC bought a new stake in Synopsys in the 4th quarter worth about $951,000. Finally, Vanguard Group Inc. grew its stake in shares of Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on SNPS shares. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their target price on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Piper Sandler increased their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $627.18.

Synopsys Price Performance

Shares of SNPS stock traded up $12.16 during trading hours on Friday, reaching $550.88. The stock had a trading volume of 158,249 shares, compared to its average volume of 1,053,765. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a 50-day simple moving average of $589.55 and a 200-day simple moving average of $565.01. The firm has a market capitalization of $84.41 billion, a PE ratio of 59.88, a price-to-earnings-growth ratio of 3.57 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $64,195,149.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mercedes Johnson sold 5,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $897,069.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,363 shares of company stock valued at $49,361,263. 0.66% of the stock is owned by corporate insiders.

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.