Arkadios Wealth Advisors Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Arkadios Wealth Advisors lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 912 shares of the semiconductor company’s stock after purchasing an additional 106 shares during the period. Arkadios Wealth Advisors’ holdings in Synopsys were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SNPS. Andina Capital Management LLC boosted its stake in Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC grew its stake in Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after acquiring an additional 20 shares during the last quarter. Hilltop National Bank lifted its stake in Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after purchasing an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC boosted its holdings in shares of Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNPS. Robert W. Baird increased their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $643.00.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Synopsys Stock Up 1.4 %

SNPS opened at $536.42 on Thursday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The business has a fifty day simple moving average of $506.07 and a 200-day simple moving average of $544.36. The firm has a market cap of $82.40 billion, a P/E ratio of 55.65, a P/E/G ratio of 3.52 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.09% and a net margin of 24.06%. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. Sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current 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.