Wealth Alliance Has $365,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Wealth Alliance lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 709 shares of the semiconductor company’s stock after selling 32 shares during the period. Wealth Alliance’s holdings in Synopsys were worth $365,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Synopsys during the 4th quarter valued at $891,507,000. Alliancebernstein L.P. grew its stake in Synopsys by 351.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company’s stock valued at $566,170,000 after buying an additional 1,380,699 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Synopsys by 113,493.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company’s stock valued at $421,450,000 after acquiring an additional 1,318,798 shares during the period. Goldman Sachs Group Inc. lifted its position in Synopsys by 90.2% during the first quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company’s stock worth $244,353,000 after acquiring an additional 347,807 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird lifted their target price on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $519.71 on Friday. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 57.24, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. The company’s 50 day simple moving average is $567.95 and its 200 day simple moving average is $533.42.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. As a group, analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now owns 26,780 shares in the company, valued at $15,638,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. 0.66% of the stock is owned by corporate insiders.

Synopsys 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.