Sendero Wealth Management LLC Invests $1.36 Million in Synopsys, Inc. (NASDAQ:SNPS)

Sendero Wealth Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,680 shares of the semiconductor company’s stock, valued at approximately $1,357,000.

A number of other large investors have also modified their holdings of the company. ORG Partners LLC boosted its holdings in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys in the fourth quarter valued at $28,000. Chris Bulman Inc acquired a new position in Synopsys during the second quarter worth $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 1.1 %

Shares of Synopsys stock traded up $5.82 during trading on Thursday, reaching $534.82. 355,321 shares of the company were exchanged, compared to its average volume of 1,075,327. The business has a 50-day moving average price of $510.31 and a 200-day moving average price of $550.44. The firm has a market capitalization of $82.15 billion, a price-to-earnings ratio of 57.50, a P/E/G ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Ten investment 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 $638.00.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 493 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is 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.