516 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 516 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Sendero Wealth Management LLC raised its stake in shares of Synopsys by 35.1% in the 1st quarter. Sendero Wealth Management LLC now owns 3,796 shares of the semiconductor company’s stock worth $1,628,000 after buying an additional 986 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Synopsys by 1.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,163 shares of the semiconductor company’s stock worth $2,643,000 after acquiring an additional 76 shares during the period. CGN Advisors LLC grew its holdings in Synopsys by 51.3% during the first quarter. CGN Advisors LLC now owns 4,186 shares of the semiconductor company’s stock worth $1,795,000 after acquiring an additional 1,419 shares during the period. Unigestion Holding SA bought a new stake in Synopsys in the first quarter worth about $1,286,000. Finally, Fulton Bank N.A. lifted its holdings in Synopsys by 16.4% in the 1st quarter. Fulton Bank N.A. now owns 1,697 shares of the semiconductor company’s stock valued at $728,000 after acquiring an additional 239 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 0.8%

SNPS opened at $486.00 on Monday. The firm has a market capitalization of $75.41 billion, a P/E ratio of 33.47, a PEG ratio of 3.23 and a beta of 1.11. The stock has a fifty day moving average of $456.95 and a 200-day moving average of $483.02. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $3.00 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNPS shares. KeyCorp set a $540.00 price objective on shares of Synopsys in a research note on Tuesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. 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. Finally, Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $607.14.

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.