Wealth Enhancement Advisory Services LLC Purchases 783 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,517 shares of the semiconductor company's stock after acquiring an additional 783 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Synopsys were worth $9,473,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the fourth quarter valued at about $29,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. raised its stake 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 valued at $44,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Synopsys stock traded down $0.61 during midday trading on Tuesday, reaching $465.54. The company had a trading volume of 903,629 shares, compared to its average volume of 1,140,543. The company has a market capitalization of $72.23 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.23 and a beta of 1.16. The firm's fifty day simple moving average is $453.78 and its 200-day simple moving average is $484.76. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

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

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Mizuho reduced their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Bank of America lowered their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, KeyCorp set a $575.00 target price on Synopsys and gave the company an "overweight" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $609.64.

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.