Dakota Wealth Management Has $412,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Dakota Wealth Management lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 961 shares of the semiconductor company’s stock after purchasing an additional 67 shares during the quarter. Dakota Wealth Management’s holdings in Synopsys were worth $412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after buying an additional 44 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the fourth quarter valued at approximately $34,000. Cloud Capital Management LLC bought a new position in Synopsys during the first quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ SNPS opened at $589.01 on Friday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $593.98. The business’s fifty day moving average price is $506.50 and its 200-day moving average price is $482.28. The stock has a market capitalization of $91.39 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 3.78 and a beta of 1.12. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $3.00 earnings per share. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNPS. The Goldman Sachs Group started coverage on Synopsys in a report on Thursday, July 10th. They set a “buy” rating and a $620.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $615.00 target price (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Bank of America increased their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp increased their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $617.67.

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.