Wealth Alliance Has $362,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Wealth Alliance cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609 shares of the semiconductor company’s stock after selling 57 shares during the quarter. Wealth Alliance’s holdings in Synopsys were worth $362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC bought a new position in shares of Synopsys in the first quarter valued at $218,000. Bridgefront Capital LLC acquired a new position in Synopsys during the fourth quarter worth $951,000. Vanguard Group Inc. raised 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 worth $6,977,593,000 after acquiring an additional 203,601 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Synopsys by 44.9% in 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 institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNPS shares. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $630.09.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The disclosure for this sale can be found here. In the last three months, insiders sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

NASDAQ:SNPS opened at $514.12 on Friday. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The firm’s 50-day simple moving average is $528.10 and its 200 day simple moving average is $557.32. The firm has a market cap of $78.97 billion, a price-to-earnings ratio of 55.88, a P/E/G ratio of 3.29 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The company 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 business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. Sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.