Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by 1776 Wealth LLC

1776 Wealth LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,880 shares of the semiconductor company's stock after selling 1,059 shares during the quarter. Synopsys makes up 0.8% of 1776 Wealth LLC's holdings, making the stock its 25th biggest position. 1776 Wealth LLC's holdings in Synopsys were worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Advisors Capital Management LLC grew its holdings in Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Peninsula Wealth LLC boosted its stake in Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after buying an additional 20 shares during the period. Williams Jones Wealth Management LLC. increased its stake in Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after acquiring an additional 22 shares during the last quarter. Finally, Hardy Reed LLC raised its position in Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after purchasing an additional 22 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 1.1%

SNPS traded up $6.70 during mid-day trading on Monday, hitting $591.46. The stock had a trading volume of 2,444,749 shares, compared to its average volume of 1,274,437. The stock's fifty day simple moving average is $508.54 and its 200-day simple moving average is $482.95. The firm has a market capitalization of $91.77 billion, a price-to-earnings ratio of 59.43, a price-to-earnings-growth ratio of 3.87 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $600.90. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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 business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.00 earnings per share. As a group, research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SNPS shares. Piper Sandler upped their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday. Rosenblatt Securities dropped their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Mizuho reduced their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price of $620.67.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by insiders.

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.