Legacy Financial Advisors Inc. Has $513,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Legacy Financial Advisors Inc. cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 997 shares of the semiconductor company’s stock after selling 113 shares during the period. Legacy Financial Advisors Inc.’s holdings in Synopsys were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Sapient Capital LLC bought a new stake in shares of Synopsys in the fourth quarter worth about $286,000. Axxcess Wealth Management LLC increased its stake in Synopsys by 6.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,781 shares of the semiconductor company’s stock worth $1,432,000 after purchasing an additional 164 shares in the last quarter. Goldstream Capital Management Ltd increased its stake in Synopsys by 57.8% during the 4th quarter. Goldstream Capital Management Ltd now owns 17,727 shares of the semiconductor company’s stock worth $9,128,000 after purchasing an additional 6,495 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in Synopsys by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after buying an additional 32 shares in the last quarter. Finally, Intelligence Driven Advisers LLC acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $275,000. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNPS shares. Piper Sandler began coverage on 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 raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Finally, Robert W. Baird increased their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Eleven research 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 target price of $601.00.

Synopsys Trading Up 2.6 %

Shares of SNPS traded up $13.56 during mid-day trading on Friday, reaching $536.94. The company’s stock had a trading volume of 855,779 shares, compared to its average volume of 964,656. The stock has a market cap of $81.88 billion, a P/E ratio of 59.13, a PEG ratio of 3.06 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The business has a 50-day simple moving average of $561.64 and a two-hundred day simple moving average of $537.01.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during 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 revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 earnings per share. Research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Transactions at Synopsys

In other news, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys 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 transaction of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marc N. Casper bought 750 shares of the stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 over the last quarter. Company insiders own 0.66% of the company’s stock.

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.