Ashton Thomas Private Wealth LLC Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Ashton Thomas Private Wealth LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 134 shares of the semiconductor company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SNPS. Kingsview Wealth Management LLC bought a new position in Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys during the first quarter valued at approximately $218,000. Bridgefront Capital LLC bought a new position in Synopsys during the fourth quarter valued at approximately $951,000. Vanguard Group Inc. grew its position in Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after acquiring an additional 203,601 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after acquiring an additional 1,249 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.2 %

NASDAQ:SNPS opened at $490.07 on Friday. The stock has a market cap of $75.28 billion, a P/E ratio of 53.27, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The firm’s fifty day simple moving average is $536.92 and its 200 day simple moving average is $559.29. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.17 earnings per share. On average, analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average price target of $630.09.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by company insiders.

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.