Synopsys, Inc. (NASDAQ:SNPS) Stake Cut by Forza Wealth Management LLC

Forza Wealth Management LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 875 shares of the semiconductor company’s stock after selling 550 shares during the period. Forza Wealth Management LLC’s holdings in Synopsys were worth $500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nilsine Partners LLC grew its holdings in shares of Synopsys by 9.0% during the first quarter. Nilsine Partners LLC now owns 556 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 46 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new position in Synopsys during the 1st quarter worth $26,000. Drive Wealth Management LLC increased its position in Synopsys by 5.9% in the first quarter. Drive Wealth Management LLC now owns 591 shares of the semiconductor company’s stock worth $338,000 after buying an additional 33 shares during the period. Raymond James & Associates lifted its stake in Synopsys by 38.8% in the first quarter. Raymond James & Associates now owns 173,506 shares of the semiconductor company’s stock valued at $99,159,000 after buying an additional 48,543 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its stake in Synopsys by 2.5% in the first quarter. GraniteShares Advisors LLC now owns 1,896 shares of the semiconductor company’s stock valued at $1,084,000 after buying an additional 46 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Synopsys Trading Up 0.2 %

NASDAQ:SNPS traded up $1.10 during midday trading on Monday, hitting $544.76. 647,477 shares of the stock were exchanged, compared to its average volume of 1,230,210. The business has a 50-day moving average price of $563.56 and a two-hundred day moving average price of $536.92. The company has a market capitalization of $83.08 billion, a price-to-earnings ratio of 60.00, a P/E/G ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

About Synopsys

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.