Sagespring Wealth Partners LLC Purchases 538 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sagespring Wealth Partners LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,787 shares of the semiconductor company's stock after purchasing an additional 538 shares during the period. Sagespring Wealth Partners LLC's holdings in Synopsys were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after purchasing an additional 50 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Synopsys in the 4th quarter worth about $17,162,000. Principal Securities Inc. raised its holdings in Synopsys by 6.0% during the 4th quarter. Principal Securities Inc. now owns 2,277 shares of the semiconductor company's stock worth $1,105,000 after buying an additional 128 shares during the period. Allworth Financial LP lifted its stake in Synopsys by 5.6% during the fourth quarter. Allworth Financial LP now owns 2,425 shares of the semiconductor company's stock valued at $1,177,000 after buying an additional 128 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Synopsys during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer now owns 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.4%

Shares of SNPS traded down $1.78 during trading hours on Thursday, hitting $473.62. 1,040,435 shares of the company were exchanged, compared to its average volume of 1,157,563. The firm's 50 day moving average is $470.10 and its 200-day moving average is $480.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a market cap of $73.49 billion, a PE ratio of 34.20, a PEG ratio of 3.13 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. 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 prior year, the business earned $3.00 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. Bank of America cut their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. 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 report on Thursday, May 29th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

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.