Marshall Financial Group LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Marshall Financial Group LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,191 shares of the semiconductor company’s stock after purchasing an additional 222 shares during the quarter. Marshall Financial Group LLC’s holdings in Synopsys were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bancreek Capital Management LP purchased a new stake in Synopsys in the 4th quarter worth approximately $3,827,000. Meridiem Investment Management Ltd. raised its position in shares of Synopsys by 13.1% during the 4th quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company’s stock valued at $270,322,000 after buying an additional 64,322 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Synopsys by 7.6% during the 4th quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company’s stock valued at $36,300,000 after buying an additional 5,253 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Synopsys by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,412 shares of the semiconductor company’s stock valued at $26,268,000 after buying an additional 587 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at $25,444,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Down 3.3%

Shares of SNPS opened at $478.86 on Friday. The firm’s 50-day moving average price is $466.31 and its 200-day moving average price is $481.83. The firm has a market capitalization of $74.30 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $3.00 EPS. Synopsys’s revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 now directly owns 71,589 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Mizuho cut their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.14.

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.