Ritholtz Wealth Management Acquires 44 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ritholtz Wealth Management grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 2,192 shares of the semiconductor company’s stock after acquiring an additional 44 shares during the period. Ritholtz Wealth Management’s holdings in Synopsys were worth $1,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. 9258 Wealth Management LLC grew its holdings in Synopsys by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 32 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Synopsys by 6.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,781 shares of the semiconductor company’s stock valued at $1,432,000 after purchasing an additional 164 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $286,000. Spire Wealth Management increased its position in Synopsys by 69.4% in the fourth quarter. Spire Wealth Management now owns 1,052 shares of the semiconductor company’s stock worth $544,000 after purchasing an additional 431 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Synopsys by 9.7% in the 4th quarter. Private Advisor Group LLC now owns 4,572 shares of the semiconductor company’s stock valued at $2,354,000 after purchasing an additional 406 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $519.58 on Tuesday. The business’s 50-day simple moving average is $559.85 and its 200-day simple moving average is $564.74. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The stock has a market capitalization of $79.61 billion, a PE ratio of 56.48, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,623 shares of company stock worth $45,147,321. Corporate insiders own 0.66% of the company’s stock.

About Synopsys

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.