Angeles Wealth Management LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Angeles Wealth Management LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 473 shares of the semiconductor company’s stock after buying an additional 122 shares during the period. Angeles Wealth Management LLC’s holdings in Synopsys were worth $281,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MGO One Seven LLC boosted its holdings in Synopsys by 67.6% during the second quarter. MGO One Seven LLC now owns 1,694 shares of the semiconductor company’s stock worth $1,008,000 after buying an additional 683 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Synopsys by 15.1% during the second quarter. Coldstream Capital Management Inc. now owns 2,501 shares of the semiconductor company’s stock worth $1,488,000 after buying an additional 328 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in Synopsys by 36.0% during the second quarter. Gryphon Financial Partners LLC now owns 900 shares of the semiconductor company’s stock worth $536,000 after buying an additional 238 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Synopsys by 15.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 674 shares of the semiconductor company’s stock worth $401,000 after buying an additional 89 shares in the last quarter. Finally, Invesco LLC raised its position in Synopsys by 3.0% during the second quarter. Invesco LLC now owns 2,310 shares of the semiconductor company’s stock worth $1,375,000 after acquiring an additional 68 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 3.4 %

Shares of NASDAQ SNPS opened at $481.50 on Thursday. The firm has a 50-day simple moving average of $541.91 and a 200-day simple moving average of $560.49. The stock has a market capitalization of $73.77 billion, a price-to-earnings ratio of 52.34, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $2.17 earnings per share. Synopsys’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNPS. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $630.09.

Insider Buying and Selling

In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now 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 ninety days, insiders sold 73,687 shares of company stock worth $44,616,637. 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.