Outlook Wealth Advisors LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Outlook Wealth Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 584 shares of the semiconductor company’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB lifted its holdings in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Synopsys by 6,961.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 66,798 shares of the semiconductor company’s stock valued at $40,948,000 after purchasing an additional 65,852 shares during the last quarter. BlueSky Wealth Advisors LLC purchased a new stake in shares of Synopsys in the 2nd quarter valued at about $249,000. Investment Advisory Services Inc. TX ADV purchased a new stake in shares of Synopsys in the 2nd quarter valued at about $214,000. Finally, DB Fitzpatrick & Co Inc lifted its holdings in shares of Synopsys by 24.7% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 2,496 shares of the semiconductor company’s stock valued at $1,485,000 after purchasing an additional 495 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 0.1 %

Shares of Synopsys stock traded up $0.72 during trading hours on Friday, reaching $549.00. 580,190 shares of the company’s stock were exchanged, compared to its average volume of 1,174,160. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The firm has a market capitalization of $84.12 billion, a price-to-earnings ratio of 59.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The company has a fifty day moving average of $573.99 and a 200-day moving average of $566.12.

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

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,363 shares of company stock valued at $49,361,263. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird boosted their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities boosted their target price on Synopsys from $615.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $629.00.

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.