RWA Wealth Partners LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

RWA Wealth Partners LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 427 shares of the semiconductor company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SNPS. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the third quarter valued at $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys in the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the third quarter worth about $29,000. Catalyst Capital Advisors LLC grew its holdings in shares of Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Synopsys in the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $543.66 on Friday. The stock has a market capitalization of $82.91 billion, a P/E ratio of 59.87, a P/E/G ratio of 3.10 and a beta of 1.06. The company’s 50-day simple moving average is $563.73 and its 200-day simple moving average is $535.97. Synopsys, Inc. has a fifty-two week low of $362.06 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly 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 26,832 shares of company stock valued at $15,464,992 in the last three months. 0.66% of the stock is owned by 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.