Apollon Wealth Management LLC Buys 214 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Apollon Wealth Management LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,505 shares of the semiconductor company’s stock after purchasing an additional 214 shares during the period. Apollon Wealth Management LLC’s holdings in Synopsys were worth $2,281,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNPS. ORG Partners LLC grew its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at about $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc acquired a new position in shares of Synopsys during the 2nd quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.8 %

Shares of SNPS opened at $557.96 on Thursday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a market cap of $85.71 billion, a price-to-earnings ratio of 57.88, a P/E/G ratio of 3.37 and a beta of 1.08. The company has a 50-day moving average price of $509.95 and a two-hundred day moving average price of $545.30.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on SNPS. Loop Capital began coverage on Synopsys in a research report on Monday. They issued a “buy” rating and a $675.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Piper Sandler cut their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

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.