Sendero Wealth Management LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sendero Wealth Management LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 35.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,796 shares of the semiconductor company's stock after acquiring an additional 986 shares during the period. Sendero Wealth Management LLC's holdings in Synopsys were worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SNPS. Advisors Capital Management LLC lifted its stake in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after buying an additional 20 shares during the last quarter. Edge Capital Group LLC grew its stake in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after acquiring an additional 20 shares during the period. Barden Capital Management Inc. increased its holdings in Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $9.01 during mid-day trading on Thursday, hitting $482.20. 1,676,431 shares of the stock traded hands, compared to its average volume of 1,145,146. The company has a market cap of $74.82 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.23 and a beta of 1.16. The stock has a fifty day moving average price of $454.89 and a 200-day moving average price of $484.55. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 earnings per share. As a group, sell-side analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 completion of the sale, the chief executive officer now owns 71,589 shares of the company's stock, 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 legal filing with the SEC, which is available at this link. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNPS shares. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, KeyCorp set a $575.00 price target on shares of Synopsys and gave the stock an "overweight" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $609.64.

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.