SeaCrest Wealth Management LLC Acquires Shares of 516 Synopsys, Inc. (NASDAQ:SNPS)

SeaCrest Wealth Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 516 shares of the semiconductor company's stock, valued at approximately $221,000.

A number of other institutional investors have also made changes to their positions in the company. Sendero Wealth Management LLC lifted its stake in shares of Synopsys by 35.1% in the first quarter. Sendero Wealth Management LLC now owns 3,796 shares of the semiconductor company's stock worth $1,628,000 after acquiring an additional 986 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Synopsys by 1.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 6,163 shares of the semiconductor company's stock worth $2,643,000 after purchasing an additional 76 shares during the last quarter. CGN Advisors LLC raised its position in shares of Synopsys by 51.3% in the 1st quarter. CGN Advisors LLC now owns 4,186 shares of the semiconductor company's stock valued at $1,795,000 after purchasing an additional 1,419 shares in the last quarter. Unigestion Holding SA purchased a new position in shares of Synopsys during the 1st quarter valued at approximately $1,286,000. Finally, Fulton Bank N.A. grew its position in shares of Synopsys by 16.4% during the first quarter. Fulton Bank N.A. now owns 1,697 shares of the semiconductor company's stock worth $728,000 after buying an additional 239 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNPS. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. Wells Fargo & Company cut their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. KeyCorp set a $540.00 price target on shares of Synopsys in a research report on Tuesday, June 3rd. Bank of America lowered their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Synopsys Trading Up 0.8%

Shares of NASDAQ SNPS opened at $486.00 on Monday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market cap of $75.41 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. The stock's 50 day simple moving average is $456.95 and its 200 day simple moving average is $483.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results 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 company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.00 earnings per share. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 now directly owns 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company's stock.

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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