Janiczek Wealth Management LLC Raises Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Janiczek Wealth Management LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483 shares of the semiconductor company’s stock after purchasing an additional 40 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Synopsys were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Gotham Asset Management LLC lifted its position in shares of Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 2,227 shares in the last quarter. abrdn plc boosted its stake in Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares during the period. Bridgefront Capital LLC purchased a new position in Synopsys during the 4th quarter valued at about $951,000. Vanguard Group Inc. increased its position in shares of Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares during the period. Finally, Simplicity Solutions LLC increased its position in shares of Synopsys by 55.5% during the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after buying an additional 1,539 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SNPS shares. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Finally, Robert W. Baird lifted their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and a consensus price target of $624.36.

Synopsys Stock Performance

SNPS stock opened at $595.00 on Friday. The company has a market capitalization of $91.17 billion, a PE ratio of 64.67, a price-to-earnings-growth ratio of 3.86 and a beta of 1.08. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The company’s 50 day moving average price is $566.70 and its two-hundred day moving average price is $555.92.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 EPS. On average, research analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Activity

In related news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,500 shares of company stock valued at $16,054,895. 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.