Montag A & Associates Inc. Has $1.85 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Montag A & Associates Inc. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,239 shares of the semiconductor company’s stock after purchasing an additional 39 shares during the period. Montag A & Associates Inc.’s holdings in Synopsys were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Modera Wealth Management LLC increased its stake in Synopsys by 12.2% during the 3rd quarter. Modera Wealth Management LLC now owns 985 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 107 shares during the period. American Century Companies Inc. increased its stake in shares of Synopsys by 9.2% in the 3rd quarter. American Century Companies Inc. now owns 120,329 shares of the semiconductor company’s stock valued at $55,227,000 after purchasing an additional 10,137 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after purchasing an additional 269,130 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Synopsys by 31.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $734,000 after purchasing an additional 386 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Synopsys by 52.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 0.4 %

Shares of SNPS traded up $2.73 during trading hours on Monday, hitting $616.78. The company had a trading volume of 243,661 shares, compared to its average volume of 1,060,518. The firm has a market cap of $94.50 billion, a P/E ratio of 67.13, a P/E/G ratio of 3.96 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The stock’s 50 day moving average price is $586.10 and its 200 day moving average price is $561.15.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 EPS. On average, research analysts expect that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Geus Aart De sold 27,753 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the sale, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The disclosure for this sale can be found here. Insiders sold 80,870 shares of company stock worth $49,055,307 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SNPS shares. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird upped their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Piper Sandler upped their price target on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $627.18.

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.