National Wealth Management Group LLC Sells 54 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Wealth Management Group LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 944 shares of the semiconductor company’s stock after selling 54 shares during the period. National Wealth Management Group LLC’s holdings in Synopsys were worth $486,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after buying an additional 344,430 shares during the period. FMR LLC raised its holdings in shares of Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares during the period. Wellington Management Group LLP increased its holdings in Synopsys by 228.8% during the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock worth $177,517,000 after purchasing an additional 269,130 shares during the period. International Assets Investment Management LLC increased its holdings in Synopsys by 52,466.9% during the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after purchasing an additional 175,764 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Synopsys by 140.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock worth $122,850,000 after purchasing an additional 156,404 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

SNPS traded up $4.78 on Monday, reaching $515.49. 974,046 shares of the stock were exchanged, compared to its average volume of 1,238,791. The company’s 50-day moving average price is $565.59 and its 200 day moving average price is $535.24. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The firm has a market capitalization of $78.61 billion, a PE ratio of 56.77, a PEG ratio of 2.98 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird lifted their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Piper Sandler started coverage on Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $601.00.

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.