ABLE Financial Group LLC Acquires 575 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ABLE Financial Group LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,232 shares of the semiconductor company's stock after acquiring an additional 575 shares during the period. ABLE Financial Group LLC's holdings in Synopsys were worth $1,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. B. Riley Wealth Advisors Inc. increased its position in shares of Synopsys by 44.8% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,250 shares of the semiconductor company's stock valued at $607,000 after purchasing an additional 387 shares during the period. Armis Advisers LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $390,000. Great Valley Advisor Group Inc. increased its position in shares of Synopsys by 8.9% during the fourth quarter. Great Valley Advisor Group Inc. now owns 9,620 shares of the semiconductor company's stock valued at $4,669,000 after purchasing an additional 783 shares during the period. Cypress Asset Management Inc. TX bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $2,064,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $29,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNPS. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research report on Thursday. Bank of America lowered their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $609.64.

Synopsys Stock Down 1.6%

Shares of SNPS traded down $7.44 during midday trading on Thursday, hitting $454.99. The company's stock had a trading volume of 4,314,126 shares, compared to its average volume of 1,134,829. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company's fifty day simple moving average is $453.45 and its two-hundred day simple moving average is $487.42. The stock has a market capitalization of $70.35 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. The company 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 20.48% and a net margin of 36.12%. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $3.00 EPS. On average, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share 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.