Capital Asset Advisory Services LLC Acquires 378 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Capital Asset Advisory Services LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,189 shares of the semiconductor company’s stock after purchasing an additional 378 shares during the period. Capital Asset Advisory Services LLC’s holdings in Synopsys were worth $1,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Artemis Investment Management LLP lifted its stake in shares of Synopsys by 4.9% in the 1st quarter. Artemis Investment Management LLP now owns 10,514 shares of the semiconductor company’s stock valued at $6,006,000 after acquiring an additional 493 shares during the last quarter. Dohj LLC lifted its stake in shares of Synopsys by 118.0% in the 1st quarter. Dohj LLC now owns 1,430 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 774 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Synopsys by 54.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,867 shares of the semiconductor company’s stock valued at $15,926,000 after acquiring an additional 9,878 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in shares of Synopsys by 9.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 483 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 40 shares during the last quarter. Finally, Signet Financial Management LLC lifted its stake in shares of Synopsys by 0.7% in the 1st quarter. Signet Financial Management LLC now owns 4,423 shares of the semiconductor company’s stock valued at $2,528,000 after acquiring an additional 31 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of SNPS opened at $595.06 on Friday. The stock has a 50-day moving average of $569.90 and a 200-day moving average of $556.47. The company has a market cap of $91.18 billion, a PE ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38.

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

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $624.36.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,658 shares of company stock valued at $20,970,824. 0.66% of the stock is owned by corporate insiders.

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.