Avestar Capital LLC Purchases 211 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Avestar Capital LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,032 shares of the semiconductor company’s stock after buying an additional 211 shares during the period. Avestar Capital LLC’s holdings in Synopsys were worth $531,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Synopsys during the 3rd quarter worth about $29,000. Catalyst Capital Advisors LLC boosted its holdings in shares of Synopsys by 34.5% in the 3rd 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. Keener Financial Planning LLC bought a new position in shares of Synopsys in the fourth quarter valued at $56,000. Altshuler Shaham Ltd raised its position in Synopsys by 157.1% during the fourth quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 77 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in Synopsys by 52.9% during the third quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 54 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ:SNPS traded down $15.48 during mid-day trading on Thursday, reaching $564.73. The stock had a trading volume of 1,151,015 shares, compared to its average volume of 1,135,672. Synopsys, Inc. has a 12 month low of $416.87 and a 12 month high of $629.38. The stock has a market capitalization of $86.53 billion, a PE ratio of 61.38, a P/E/G ratio of 3.75 and a beta of 1.07. The stock has a 50-day simple moving average of $558.33 and a two-hundred day simple moving average of $548.97.

Synopsys (NASDAQ:SNPSGet Free Report) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. Equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Marc N. Casper bought 750 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders sold 22,352 shares of company stock worth $12,996,801. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target 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 lifted their price objective on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $616.18.

Get Our Latest Stock Analysis on Synopsys

About Synopsys

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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