Mission Wealth Management LP Buys 198 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mission Wealth Management LP boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 25.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 978 shares of the semiconductor company’s stock after purchasing an additional 198 shares during the period. Mission Wealth Management LP’s holdings in Synopsys were worth $559,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. abrdn plc grew its position in shares of Synopsys by 56.9% during the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after acquiring an additional 30,581 shares during the period. Bridgefront Capital LLC bought a new stake in shares of Synopsys during the 4th quarter valued at $951,000. Vanguard Group Inc. grew its position in shares of Synopsys by 1.5% during the 4th 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 period. Simplicity Solutions LLC grew its position in shares of Synopsys by 55.5% during the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after acquiring an additional 1,539 shares during the period. Finally, Comerica Bank purchased a new position in shares of Synopsys during the 3rd quarter valued at $14,203,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock traded up $14.31 during trading hours on Friday, reaching $621.30. The company’s stock had a trading volume of 946,152 shares, compared to its average volume of 704,159. The firm has a 50 day moving average price of $577.95 and a 200-day moving average price of $558.16. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The stock has a market cap of $95.20 billion, a P/E ratio of 67.53, a P/E/G ratio of 3.92 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 target price (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus target price of $625.82.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,021 shares of company stock worth $23,140,653. Insiders own 0.66% of the company’s stock.

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.