Wealth Alliance LLC Invests $960,000 in Synopsys, Inc. (NASDAQ:SNPS)

Wealth Alliance LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,238 shares of the semiconductor company's stock, valued at approximately $960,000.

Several other large investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC lifted its stake in shares of Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of 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 buying an additional 20 shares during the last quarter. Peninsula Wealth LLC raised its holdings in Synopsys by 0.5% during the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after purchasing an additional 20 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of 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 in the last quarter. Finally, Hardy Reed LLC boosted its holdings in shares of Synopsys by 0.7% during the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after buying an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Trading Down 0.7%

Shares of SNPS stock opened at $584.76 on Monday. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $600.90. The stock has a market capitalization of $90.73 billion, a P/E ratio of 42.22, a P/E/G ratio of 3.87 and a beta of 1.12. The firm's 50 day moving average is $508.54 and its 200 day moving average is $482.95.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 EPS. Research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNPS shares. Bank of America boosted their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price target on the stock. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Rosenblatt Securities cut their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $617.67.

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.

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