Redhawk Wealth Advisors Inc. Has $2.94 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Redhawk Wealth Advisors Inc. lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,797 shares of the semiconductor company’s stock after acquiring an additional 182 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Synopsys were worth $2,936,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC raised its position 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 acquiring an additional 36 shares during the period. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter worth approximately $25,000. Chris Bulman Inc acquired a new stake in Synopsys during the 2nd quarter worth approximately $30,000. 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 worth $36,000 after buying an additional 24 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction 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 directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Robert W. Baird raised their price target 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. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $642.22.

Synopsys Trading Up 1.3 %

NASDAQ:SNPS opened at $539.92 on Monday. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The firm has a fifty day simple moving average of $510.84 and a 200 day simple moving average of $549.61. The stock has a market capitalization of $82.94 billion, a PE ratio of 56.01, a P/E/G ratio of 3.64 and a beta of 1.08.

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