Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Evexia Wealth LLC

Evexia Wealth LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 880 shares of the semiconductor company’s stock after buying an additional 43 shares during the quarter. Evexia Wealth LLC’s holdings in Synopsys were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SNPS. Advisors Capital Management LLC raised its position in 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 purchasing an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares during the last quarter. Edge Capital Group LLC raised its position in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. raised its position in Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after buying an additional 20 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer now owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler restated an “overweight” rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Stock Up 0.8%

SNPS opened at $486.00 on Friday. The firm has a market capitalization of $75.41 billion, a P/E ratio of 33.47, a P/E/G ratio of 3.23 and a beta of 1.11. The firm’s 50 day moving average is $456.95 and its 200-day moving average is $483.94. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Synopsys (NASDAQ:SNPS) last released 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. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company earned $3.00 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal 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.