Mission Wealth Management LP Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Mission Wealth Management LP raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 780 shares of the semiconductor company’s stock after buying an additional 19 shares during the quarter. Mission Wealth Management LP’s holdings in Synopsys were worth $401,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SNPS. Gotham Asset Management LLC raised its holdings in Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares in the last quarter. abrdn plc lifted its holdings in shares of Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after buying an additional 30,581 shares during the period. Simplicity Solutions LLC boosted its stake in shares of Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after buying an additional 1,539 shares in the last quarter. Comerica Bank purchased a new position in Synopsys in the third quarter worth $14,203,000. Finally, DNB Asset Management AS grew its stake in shares of Synopsys by 18.6% during the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after purchasing an additional 8,259 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, Director Marc N. Casper acquired 750 shares of Synopsys stock in a transaction on Monday, March 25th. The shares were bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the purchase, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 2.6 %

Shares of NASDAQ:SNPS opened at $536.94 on Friday. The company has a market cap of $81.88 billion, a P/E ratio of 59.13, a P/E/G ratio of 3.06 and a beta of 1.07. The business has a fifty day simple moving average of $561.64 and a 200-day simple moving average of $537.01. Synopsys, Inc. has a 52 week low of $365.46 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. Piper Sandler started coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $601.00.

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.