Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,836 shares of the semiconductor company’s stock after acquiring an additional 384 shares during the period. Apollon Wealth Management LLC’s holdings in Synopsys were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Synopsys by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after acquiring an additional 78,848 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Synopsys by 25.8% in the 4th quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock valued at $478,545,000 after acquiring an additional 190,330 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Synopsys by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock worth $406,227,000 after purchasing an additional 36,470 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $2.31 during trading hours on Wednesday, reaching $551.92. The stock had a trading volume of 110,646 shares, compared to its average volume of 1,189,180. The company has a market cap of $84.17 billion, a price-to-earnings ratio of 60.53, a PEG ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The business’s fifty day moving average is $559.77 and its two-hundred day moving average is $539.03.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Marc N. Casper purchased 750 shares of Synopsys stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 in the last 90 days. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Piper Sandler began coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Robert W. Baird increased their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $601.00.

Synopsys Company 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.