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Caliber Wealth Management LLC KS Invests $547,000 in Synopsys, Inc. (NASDAQ:SNPS)

Synopsys logo with Computer and Technology background

Key Points

  • Caliber Wealth Management LLC acquired a new stake in Synopsys, Inc. worth approximately $547,000, purchasing 1,275 shares during the first quarter.
  • Several analysts have issued buy ratings for Synopsys, with price targets ranging from $620.00 to $660.00, reflecting strong investor confidence.
  • Insider sales included CEO Sassine Ghazi selling over 11,000 shares, demonstrating a significant decrease in his ownership, which may impact investor sentiment.
  • MarketBeat previews the top five stocks to own by September 1st.

Caliber Wealth Management LLC KS bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,275 shares of the semiconductor company's stock, valued at approximately $547,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares during the period. Ameriflex Group Inc. bought a new position in shares of Synopsys during the 4th quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the 4th quarter worth about $34,000. Cloud Capital Management LLC bought a new position in shares of Synopsys during the 1st quarter worth about $36,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNPS shares. KeyCorp raised their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Mizuho cut their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities lifted their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Needham & Company LLC reissued a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $622.33.

Read Our Latest Stock Report on SNPS

Synopsys Stock Up 1.9%

Shares of SNPS stock traded up $12.14 during trading on Wednesday, reaching $647.95. The company's stock had a trading volume of 674,166 shares, compared to its average volume of 1,452,759. The business has a fifty day moving average price of $521.77 and a 200-day moving average price of $488.50. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a market cap of $100.54 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 3.92 and a beta of 1.12. Synopsys, Inc. has a one year low of $365.74 and a one year high of $647.20.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $3.00 earnings per share. The company's quarterly revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 over the last ninety days. Insiders own 0.62% of the company's stock.

Synopsys Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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