WealthShield Partners LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• WealthShield Partners LLC increased its stake in Synopsys, Inc. by 20.1% during the first quarter, now holding 3,869 shares valued at approximately $1,659,000.
• Insider executives sold significant shares of Synopsys stock recently, with the CRO and CFO selling shares worth over $7.7 million combined, representing substantial decreases in their holdings.
• Wall Street analysts remain optimistic on Synopsys, with a majority giving it a "buy" rating and an average target price of approximately $622.33.

WealthShield Partners LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,869 shares of the semiconductor company's stock after purchasing an additional 647 shares during the period. WealthShield Partners LLC's holdings in Synopsys were worth $1,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNPS. Advisors Capital Management LLC raised 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 period. Peninsula Wealth LLC increased its stake 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 buying an additional 20 shares during the period. Williams Jones Wealth Management LLC. increased its stake in Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after buying an additional 22 shares during the period. Hardy Reed LLC increased its stake in 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 during the period. Finally, Resurgent Financial Advisors LLC increased its stake in Synopsys by 2.7% during the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after buying an additional 22 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction 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 sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Mizuho lowered their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Finally, Rosenblatt Securities boosted their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $622.33.

Synopsys Stock Down 1.2%

Shares of NASDAQ:SNPS opened at $628.50 on Wednesday. The stock has a market cap of $97.52 billion, a P/E ratio of 45.38, a P/E/G ratio of 4.21 and a beta of 1.15. The firm has a fifty day moving average price of $534.72 and a 200 day moving average price of $492.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73.

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 for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.00 EPS. Sell-side analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

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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