Brookstone Capital Management Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Brookstone Capital Management increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 745 shares of the semiconductor company’s stock after purchasing an additional 46 shares during the period. Brookstone Capital Management’s holdings in Synopsys were worth $425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its stake in Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares in the last quarter. Andina Capital Management LLC raised its position in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares during the last quarter. Mission Wealth Management LP lifted its stake in Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after acquiring an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the period. Finally, Ignite Planners LLC boosted its holdings in shares of Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total value of $3,197,590.00. Following the sale, the director now owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $629.00.

Synopsys Trading Up 1.7 %

Shares of NASDAQ:SNPS opened at $558.22 on Tuesday. The stock has a 50 day moving average of $573.63 and a 200 day moving average of $566.64. The company has a market cap of $85.53 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $427.63 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

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.