Brookstone Capital Management Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Brookstone Capital Management bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 699 shares of the semiconductor company’s stock, valued at approximately $400,000.

Several other hedge funds have also recently bought and sold shares of SNPS. Coldstream Capital Management Inc. grew its stake in shares of Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP raised its position in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after buying an additional 19 shares in the last quarter. Ignite Planners LLC lifted its stake 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 period. Allstate Corp boosted its holdings in shares of Synopsys by 4.7% in the fourth quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its stake in shares of Synopsys by 1.6% during the first quarter. Green Alpha Advisors LLC now owns 1,358 shares of the semiconductor company’s stock valued at $776,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler reissued an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Finally, Robert W. Baird lifted their price target on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $624.36.

Synopsys Trading Up 1.1 %

SNPS opened at $601.75 on Tuesday. Synopsys, Inc. has a 1 year low of $418.51 and a 1 year high of $629.38. The stock has a fifty day moving average price of $569.90 and a 200 day moving average price of $556.31. The stock has a market cap of $92.20 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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). 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 company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,658 shares of company stock worth $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.