Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,375 shares of the semiconductor company's stock after buying an additional 776 shares during the period. Wealthfront Advisers LLC's holdings in Synopsys were worth $5,307,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SNPS. Brighton Jones LLC raised its position in Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Synopsys by 47.7% in the 4th quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock worth $386,000 after purchasing an additional 257 shares in the last quarter. HighTower Advisors LLC lifted its position in Synopsys by 15.6% during the fourth quarter. HighTower Advisors LLC now owns 10,754 shares of the semiconductor company's stock valued at $5,220,000 after purchasing an additional 1,450 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Synopsys by 14.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,032 shares of the semiconductor company's stock valued at $4,869,000 after purchasing an additional 1,249 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in Synopsys by 2.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 168,251 shares of the semiconductor company's stock worth $81,662,000 after buying an additional 4,092 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of SNPS traded down $4.25 during midday trading on Friday, reaching $584.76. The stock had a trading volume of 3,682,314 shares, compared to its average volume of 1,268,583. The firm has a market cap of $90.73 billion, a PE ratio of 42.22, a P/E/G ratio of 3.90 and a beta of 1.12. The firm has a 50 day simple moving average of $508.54 and a 200-day simple moving average of $482.97. Synopsys, Inc. has a one year low of $365.74 and a one year high of $600.90. 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 (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent analyst reports. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Bank of America increased their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Finally, Mizuho reduced their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $617.67.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were 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 trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock valued at $13,001,048. Corporate insiders own 0.62% of the company's stock.

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.