AE Wealth Management LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)by Danessa Lincoln
AE Wealth Management LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,785 shares of the semiconductor company’s stock after purchasing an additional 229 shares during the period. AE Wealth Management LLC’s holdings in Synopsys were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Achmea Investment Management B.V. grew its stake in Synopsys by 151.2% in the fourth quarter. Achmea Investment Management B.V. now owns 19,092 shares of the semiconductor company’s stock valued at $2,658,000 after purchasing an additional 11,492 shares during the last quarter. American International Group Inc. grew its stake in Synopsys by 3.3% in the fourth quarter. American International Group Inc. now owns 65,493 shares of the semiconductor company’s stock valued at $9,117,000 after purchasing an additional 2,118 shares during the last quarter. Champlain Investment Partners LLC grew its stake in Synopsys by 0.3% in the fourth quarter. Champlain Investment Partners LLC now owns 603,115 shares of the semiconductor company’s stock valued at $83,954,000 after purchasing an additional 1,835 shares during the last quarter. Advisor Partners LLC grew its stake in Synopsys by 3.6% in the fourth quarter. Advisor Partners LLC now owns 4,183 shares of the semiconductor company’s stock valued at $619,000 after purchasing an additional 144 shares during the last quarter. Finally, Wetherby Asset Management Inc. purchased a new position in Synopsys in the fourth quarter valued at about $212,000. Institutional investors own 87.30% of the company’s stock.
Shares of NASDAQ:SNPS opened at $171.11 on Monday. Synopsys, Inc. has a 12-month low of $104.90 and a 12-month high of $171.47. The company has a market capitalization of $25.76 billion, a PE ratio of 55.74, a PEG ratio of 3.05 and a beta of 1.14. The business has a 50 day moving average of $149.46 and a two-hundred day moving average of $142.90. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.23. The business had revenue of $861.33 million during the quarter, compared to analysts’ expectations of $836.52 million. Synopsys had a return on equity of 11.53% and a net margin of 13.96%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. Equities research analysts predict that Synopsys, Inc. will post 3.79 earnings per share for the current fiscal year.
SNPS has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $175.00 target price on shares of Synopsys in a research note on Thursday, April 9th. Credit Suisse Group boosted their price target on Synopsys from $150.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Atlantic Securities started coverage on Synopsys in a research note on Tuesday, February 18th. They set an “overweight” rating and a $200.00 price target on the stock. Robert W. Baird boosted their price target on Synopsys from $182.00 to $193.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, KeyCorp boosted their price target on Synopsys from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Synopsys currently has an average rating of “Buy” and a consensus price target of $181.69.
In related news, Director Bruce R. Chizen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $153.63, for a total transaction of $3,840,750.00. Following the completion of the sale, the director now directly owns 13,165 shares in the company, valued at $2,022,538.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trac Pham sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $146.67, for a total value of $733,350.00. Following the sale, the chief financial officer now owns 6,704 shares of the company’s stock, valued at $983,275.68. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $5,886,250 over the last 90 days. Company insiders own 1.84% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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