Lifeworks Advisors LLC Acquires Shares of 506 Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Lifeworks Advisors LLC has acquired 506 shares of Synopsys, Inc. for approximately $217,000, indicating growing interest from institutional investors in the semiconductor sector.
• Wall Street analysts are bullish on Synopsys, with numerous firms raising their target prices, leading to an average target of $622.33 and a strong “Moderate Buy” consensus rating.
• Insider selling was observed, with CEO Sassine Ghazi selling over 11,000 shares valued at approximately $5.2 million, decreasing his stake by 13.7%.

Lifeworks Advisors LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 506 shares of the semiconductor company's stock, valued at approximately $217,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in Synopsys by 275.0% during 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 in the last quarter. Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the fourth quarter valued at approximately $34,000. Cloud Capital Management LLC acquired a new stake in Synopsys during the first quarter valued at approximately $36,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 28.6% during 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 in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price for the company. KeyCorp lifted their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $622.33.

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 transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's 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 sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Synopsys Stock Performance

SNPS stock opened at $601.55 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a 50 day moving average price of $517.83 and a 200 day moving average price of $486.98. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $618.49. The stock has a market capitalization of $93.34 billion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share 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 during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company posted $3.00 EPS. Synopsys's revenue was up 10.3% on a year-over-year basis. Analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Synopsys 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.

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.