Spectrum Wealth Counsel LLC Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Spectrum Wealth Counsel LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,389 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Synopsys were worth $3,802,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SNPS. 9258 Wealth Management LLC raised its holdings in Synopsys by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after acquiring an additional 32 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Synopsys by 5.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,640 shares of the semiconductor company’s stock valued at $1,875,000 after purchasing an additional 186 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Synopsys by 105.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,858 shares of the semiconductor company’s stock worth $8,680,000 after purchasing an additional 8,634 shares in the last quarter. NorthRock Partners LLC grew its stake in shares of Synopsys by 15.7% during the fourth quarter. NorthRock Partners LLC now owns 884 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 120 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Synopsys by 6.4% in the fourth quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $1,083,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geus Aart De sold 4,212 shares of the firm’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 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 73,687 shares of company stock worth $44,616,637. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.2 %

Shares of SNPS stock opened at $490.07 on Friday. The stock’s 50-day moving average price is $536.92 and its 200 day moving average price is $559.29. The stock has a market capitalization of $75.28 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping 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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average rating of “Buy” and a consensus target price of $630.09.

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.