Peloton Wealth Strategists Has $534,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Peloton Wealth Strategists raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 17.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 897 shares of the semiconductor company’s stock after acquiring an additional 131 shares during the quarter. Peloton Wealth Strategists’ holdings in Synopsys were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Andina Capital Management LLC boosted its stake in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC boosted its stake in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 20 shares during the last quarter. Ignite Planners LLC boosted its stake in Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 20 shares during the last quarter. Finally, Monument Capital Management boosted its stake in Synopsys by 1.1% during the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $630.09.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other Synopsys news, insider Geus Aart De sold 2,789 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $610.94, for a total value of $1,703,911.66. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $65,360,194.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,317 shares of company stock worth $37,173,297. Insiders own 0.66% of the company’s stock.

Synopsys Stock Down 0.4 %

NASDAQ SNPS opened at $513.31 on Friday. Synopsys, Inc. has a 12-month low of $445.07 and a 12-month high of $629.38. The company has a market capitalization of $78.85 billion, a PE ratio of 55.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The firm’s 50 day moving average is $519.53 and its 200-day moving average is $554.93.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

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.