Wedbush Securities Inc. Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Wedbush Securities Inc. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,384 shares of the semiconductor company’s stock after buying an additional 839 shares during the period. Wedbush Securities Inc.’s holdings in Synopsys were worth $5,584,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc bought a new stake in shares of Synopsys in the second quarter worth $30,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys in the fourth quarter valued at $28,000. Jones Financial Companies Lllp grew its holdings in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS opened at $467.99 on Monday. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The stock’s 50 day moving average price is $550.05 and its 200 day moving average price is $562.64. The stock has a market cap of $71.89 billion, a P/E ratio of 50.43, a P/E/G ratio of 3.06 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus price target of $630.09.

Insider Buying and Selling

In other news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Insiders have sold a total of 73,687 shares of company stock valued at $44,616,637 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

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.