Diversify Wealth Management LLC Has $746,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Diversify Wealth Management LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,620 shares of the semiconductor company's stock after selling 513 shares during the period. Diversify Wealth Management LLC's holdings in Synopsys were worth $746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Cornerstone Planning Group LLC increased its holdings in shares of Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the fourth quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the fourth quarter valued at $34,000. Cloud Capital Management LLC acquired a new position in shares of Synopsys in the first quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on SNPS shares. The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday. They issued a "buy" rating and a $620.00 price target on the stock. Mizuho decreased their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Rosenblatt Securities cut their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $612.67.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is owned by insiders.

Synopsys Stock Down 1.2%

SNPS stock opened at $559.28 on Friday. The stock has a market capitalization of $86.78 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $621.24. The firm has a 50-day moving average price of $499.27 and a 200-day moving average price of $480.04.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 EPS. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.

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