LVW Advisors LLC Invests $218,000 in Synopsys, Inc. (NASDAQ:SNPS)

LVW Advisors LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 382 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its stake in shares of Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 19 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after acquiring an additional 20 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 20 shares during the last quarter. Finally, Allstate Corp grew its holdings in shares of Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.0 %

SNPS stock opened at $595.06 on Monday. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The firm has a market cap of $91.18 billion, a P/E ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.07. The business’s 50 day moving average is $569.90 and its 200-day moving average is $556.31.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNPS. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average target price of $624.36.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The stock was 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 document filed with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders have sold a total of 35,658 shares of company stock worth $20,970,824 in the last three months. Insiders own 0.66% of the company’s stock.

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.