Global Assets Advisory LLC Has $1.01 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Global Assets Advisory LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 189.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,429 shares of the semiconductor company's stock after buying an additional 1,590 shares during the period. Global Assets Advisory LLC's holdings in Synopsys were worth $1,010,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dynamic Advisor Solutions LLC acquired a new position in Synopsys during the 1st quarter valued at about $1,000,000. Bancreek Capital Management LP bought a new stake in shares of Synopsys during the 4th quarter valued at $3,827,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after acquiring an additional 655 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Synopsys by 5.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company's stock worth $7,435,000 after purchasing an additional 791 shares during the last quarter. Finally, Andra AP fonden grew its stake in shares of Synopsys by 61.1% during the fourth quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock worth $5,630,000 after purchasing an additional 4,400 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. KeyCorp set a $540.00 target price on Synopsys in a report on Tuesday, June 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Mizuho lowered their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Stock Up 1.7%

Shares of SNPS stock traded up $8.29 on Wednesday, hitting $487.27. 867,874 shares of the stock were exchanged, compared to its average volume of 1,154,609. The firm has a market capitalization of $75.61 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.11. The business has a 50-day moving average of $474.47 and a 200 day moving average of $477.62. 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 fifty-two week low of $365.74 and a fifty-two week high of $624.80.

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

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive now directly owns 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer now owns 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

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.