Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,836 shares of the semiconductor company’s stock after acquiring an additional 384 shares during the period. Apollon Wealth Management LLC’s holdings in Synopsys were worth $1,975,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNPS. OFI Invest Asset Management acquired a new stake in shares of Synopsys during the third quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys in the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its stake 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 valued at $52,000 after purchasing an additional 29 shares during the period. Finally, Keener Financial Planning LLC purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated 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 directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following 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 have sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.4 %

Shares of Synopsys stock traded up $2.31 during mid-day trading on Wednesday, hitting $551.92. 110,646 shares of the stock were exchanged, compared to its average volume of 1,189,180. The stock has a market capitalization of $84.17 billion, a price-to-earnings ratio of 60.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The company has a 50-day simple moving average of $559.77 and a 200 day simple moving average of $539.03.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share 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 analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. Equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.