Synopsys, Inc. (NASDAQ:SNPS) Stake Lessened by Marcum Wealth LLC

Marcum Wealth LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368 shares of the semiconductor company’s stock after selling 61 shares during the period. Marcum Wealth LLC’s holdings in Synopsys were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. LPL Financial LLC raised its stake in shares of Synopsys by 16.0% during the 3rd quarter. LPL Financial LLC now owns 56,608 shares of the semiconductor company’s stock worth $25,981,000 after purchasing an additional 7,826 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Synopsys by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 5,158 shares of the semiconductor company’s stock worth $2,367,000 after buying an additional 81 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Synopsys by 4.9% during the third quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after acquiring an additional 78,848 shares during the period. AlphaCore Capital LLC lifted its position in Synopsys by 0.7% during the 3rd quarter. AlphaCore Capital LLC now owns 3,833 shares of the semiconductor company’s stock worth $1,759,000 after buying an additional 27 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of Synopsys by 0.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 8,813 shares of the semiconductor company’s stock valued at $4,045,000 after acquiring an additional 70 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,288 shares of company stock valued at $13,527,485. 0.66% of the stock is owned by insiders.

Synopsys Stock Down 0.8 %

Shares of SNPS opened at $605.53 on Friday. The company has a market cap of $92.78 billion, a PE ratio of 65.82, a P/E/G ratio of 3.94 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $416.87 and a 52-week high of $629.38. The business has a fifty day moving average of $563.07 and a 200 day moving average of $554.55.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and issued a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird lifted their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $616.18.

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.