Valeo Financial Advisors LLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Valeo Financial Advisors LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 570 shares of the semiconductor company’s stock after purchasing an additional 34 shares during the period. Valeo Financial Advisors LLC’s holdings in Synopsys were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Synopsys during the 4th quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys during the 4th quarter valued at $34,000. Cloud Capital Management LLC bought a new stake in Synopsys during the 1st quarter valued at $36,000. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNPS shares. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday. They set a “buy” rating and a $620.00 target price on the stock. Finally, KeyCorp upped their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $612.67.

Synopsys Stock Down 1.2%

Shares of NASDAQ:SNPS opened at $559.28 on Friday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $621.24. The firm has a fifty day moving average of $499.27 and a 200 day moving average of $480.18. The firm has a market capitalization of $86.78 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.