Quadcap Wealth Management LLC Makes New $458,000 Investment in Synopsys, Inc. $SNPS

Key Points

• Quadcap Wealth Management LLC invested $458,000 in Synopsys, Inc., acquiring 1,068 shares during the first quarter.
• Institutional ownership of Synopsys stock is high at 85.47%, with several hedge funds increasing their stakes significantly in recent months.
• Analysts have raised their price targets for Synopsys, with KeyCorp setting a new target of $610.00, reflecting a positive outlook on the company's future performance.

Quadcap Wealth Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,068 shares of the semiconductor company's stock, valued at approximately $458,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in Synopsys in the 4th quarter valued at $29,000. Cornerstone Planning Group LLC lifted 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 in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares during the period. Cloud Capital Management LLC bought a new position in shares of Synopsys during the first quarter worth about $36,000. Finally, Meeder Asset Management Inc. raised its position in Synopsys by 33.3% in the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock valued at $45,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNPS shares. Piper Sandler upped their price target on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Bank of America lifted their price target on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $634.64.

Insider Activity 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 stock was 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 of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 in the last ninety days. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

Shares of SNPS stock traded down $8.65 during trading on Friday, reaching $603.52. 992,830 shares of the company's stock were exchanged, compared to its average volume of 1,049,484. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The firm's fifty day moving average price is $583.07 and its 200-day moving average price is $503.46. 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 stock has a market capitalization of $93.64 billion, a PE ratio of 43.58, a PEG ratio of 4.02 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.00 earnings per share. As a group, sell-side analysts anticipate 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.