Spire Wealth Management Sells 896 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Spire Wealth Management lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 65.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 481 shares of the semiconductor company’s stock after selling 896 shares during the period. Spire Wealth Management’s holdings in Synopsys were worth $286,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings 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 purchasing an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys during the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its holdings in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the period. Activest Wealth Management purchased a new position in Synopsys in the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC raised its holdings in Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of several recent research reports. KeyCorp lifted their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird increased their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Geus Aart De sold 4,212 shares of the stock in a transaction dated 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 sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders sold 74,623 shares of company stock worth $45,147,321 in the last quarter. 0.66% of the stock is owned by insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $519.58 on Tuesday. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The firm has a market capitalization of $79.61 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.43 and a beta of 1.07. The company’s fifty day moving average price is $559.85 and its 200-day moving average price is $564.74.

Synopsys (NASDAQ:SNPS) last released its quarterly 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

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.