My Legacy Advisors LLC Acquires 29 Shares of Synopsys, Inc. (NASDAQ:SNPS)

My Legacy Advisors LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 663 shares of the semiconductor company’s stock after buying an additional 29 shares during the period. My Legacy Advisors LLC’s holdings in Synopsys were worth $284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in shares of Synopsys during the fourth quarter worth approximately $29,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the fourth quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the fourth quarter worth approximately $34,000. Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $500.73 on Thursday. The stock’s fifty day moving average price is $462.08 and its two-hundred day moving average price is $482.81. The company has a market cap of $77.69 billion, a PE ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. On average, equities analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer now owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Mizuho lowered their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. KeyCorp set a $540.00 price target on Synopsys in a research report on Tuesday, June 3rd. Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $607.14.

About Synopsys

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.