Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,172 shares of the semiconductor company's stock after acquiring an additional 655 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Synopsys were worth $8,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the 4th quarter valued at about $29,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys during the 4th quarter valued at about $34,000. Hazlett Burt & Watson Inc. increased its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 0.1%

Shares of NASDAQ SNPS opened at $470.98 on Tuesday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm has a market capitalization of $73.08 billion, a PE ratio of 34.01, a PEG ratio of 3.11 and a beta of 1.11. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $473.40 and a two-hundred day moving average price of $477.61.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 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 analyst estimates of $1.60 billion. During the same period last year, the company posted $3.00 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive now directly owns 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last three months. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNPS. Piper Sandler reissued an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp set a $540.00 target price on shares of Synopsys in a research report on Tuesday, June 3rd. Finally, Rosenblatt Securities dropped their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $607.14.

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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