Legacy Capital Wealth Partners LLC Buys 35 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Legacy Capital Wealth Partners LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 582 shares of the semiconductor company’s stock after buying an additional 35 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Synopsys were worth $300,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s 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 in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of SNPS opened at $544.76 on Tuesday. The firm’s 50-day simple moving average is $563.56 and its two-hundred day simple moving average is $536.92. Synopsys, Inc. has a fifty-two week low of $365.46 and a fifty-two week high of $629.38. The stock has a market cap of $83.08 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

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

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.