Ritholtz Wealth Management Has $1.03 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Ritholtz Wealth Management decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,030 shares of the semiconductor company’s stock after selling 162 shares during the period. Ritholtz Wealth Management’s holdings in Synopsys were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in shares of Synopsys by 600.0% in 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 during the last quarter. Pacifica Partners Inc. bought a new position in Synopsys in the third quarter valued at approximately $25,000. Chris Bulman Inc acquired a new stake in Synopsys during the 2nd quarter worth $30,000. Fortitude Family Office LLC raised its position in shares of 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 last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Synopsys Price Performance

SNPS stock opened at $545.46 on Tuesday. The stock has a market capitalization of $83.79 billion, a P/E ratio of 56.58, a P/E/G ratio of 3.64 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38. The business has a 50-day moving average of $511.99 and a 200-day moving average of $549.43.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. 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. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $642.22.

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.