WealthPLAN Partners LLC Takes $1.11 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

WealthPLAN Partners LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,194 shares of the semiconductor company's stock, valued at approximately $1,111,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after buying an additional 36 shares in the last quarter. Chris Bulman Inc purchased a new position in Synopsys in the second quarter valued at about $30,000. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the third quarter worth about $25,000. Tsfg LLC raised its stake in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 24 shares during the period. Finally, Fortitude Family Office LLC lifted its position in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Loop Capital initiated coverage on Synopsys in a research report on Monday. They issued a "buy" rating and a $675.00 target price on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Piper Sandler cut their price objective on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $649.82.

Synopsys Stock Down 1.1 %

Synopsys stock traded down $5.96 on Tuesday, hitting $550.30. The company's stock had a trading volume of 157,931 shares, compared to its average volume of 1,061,427. The company has a fifty day moving average price of $508.51 and a 200-day moving average price of $545.23. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $84.53 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

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

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value 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 approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

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.