Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 997 shares of the semiconductor company’s stock after selling 113 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Synopsys were worth $513,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in Synopsys by 5.6% in the third quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock valued at $2,932,000 after buying an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Synopsys by 61.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,881 shares of the semiconductor company’s stock worth $1,781,000 after acquiring an additional 1,484 shares in the last quarter. Raymond James & Associates lifted its position in Synopsys by 32.0% in the third quarter. Raymond James & Associates now owns 118,431 shares of the semiconductor company’s stock valued at $54,356,000 after acquiring an additional 28,739 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Synopsys by 105.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock valued at $3,718,000 after acquiring an additional 4,154 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in Synopsys by 8.2% during the third quarter. Independent Advisor Alliance now owns 3,840 shares of the semiconductor company’s stock worth $1,762,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

Synopsys Price Performance

NASDAQ SNPS traded up $13.56 during mid-day trading on Friday, hitting $536.94. The company’s stock had a trading volume of 855,779 shares, compared to its average volume of 964,656. The firm has a market capitalization of $81.88 billion, a P/E ratio of 59.13, a price-to-earnings-growth ratio of 3.06 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38. The stock’s fifty day simple moving average is $561.64 and its two-hundred day simple moving average is $537.01.

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

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 SEC, which is available at this hyperlink. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’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 sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Synopsys Company 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.