Mission Wealth Management LP Acquires 19 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mission Wealth Management LP boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 780 shares of the semiconductor company’s stock after buying an additional 19 shares during the period. Mission Wealth Management LP’s holdings in Synopsys were worth $401,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in Synopsys by 5.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock valued at $2,932,000 after purchasing an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Synopsys by 61.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,881 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 1,484 shares during the period. Raymond James & Associates raised its holdings in Synopsys by 32.0% in the 3rd quarter. Raymond James & Associates now owns 118,431 shares of the semiconductor company’s stock valued at $54,356,000 after acquiring an additional 28,739 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Synopsys by 105.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $3,718,000 after purchasing an additional 4,154 shares during the last quarter. Finally, Independent Advisor Alliance increased its position in shares of Synopsys by 8.2% in the third quarter. Independent Advisor Alliance now owns 3,840 shares of the semiconductor company’s stock worth $1,762,000 after purchasing an additional 291 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 over the last 90 days. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Up 2.6 %

Shares of SNPS stock opened at $536.94 on Friday. The stock has a 50-day moving average of $561.64 and a 200-day moving average of $537.01. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 59.13, a PEG ratio of 3.06 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned $1.75 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Analyst Ratings Changes

SNPS has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Finally, Piper Sandler started coverage on Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $601.00.

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.