Hollencrest Capital Management Sells 63 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Hollencrest Capital Management lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 37.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104 shares of the semiconductor company’s stock after selling 63 shares during the quarter. Hollencrest Capital Management’s holdings in Synopsys were worth $62,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new position in shares of Synopsys during the 1st quarter valued at $239,000. Concurrent Investment Advisors LLC purchased a new stake in Synopsys during the first quarter valued at about $218,000. Bridgefront Capital LLC bought a new position in Synopsys during the fourth quarter worth about $951,000. Vanguard Group Inc. increased its stake in shares of Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of 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 purchasing an additional 1,249 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNPS shares. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp increased their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $630.09.

Synopsys Trading Down 1.5 %

Shares of Synopsys stock opened at $506.65 on Friday. The firm has a market capitalization of $77.63 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The business’s 50-day moving average price is $525.96 and its 200-day moving average price is $556.71.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 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 quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. As a group, analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by 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.