Concord Wealth Partners Has $776,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Concord Wealth Partners grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,532 shares of the semiconductor company’s stock after buying an additional 107 shares during the quarter. Concord Wealth Partners’ holdings in Synopsys were worth $776,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its holdings in Synopsys by 552.6% during the 1st quarter. Sunbelt Securities Inc. now owns 124 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 105 shares during the last quarter. Brookstone Capital Management acquired a new position in Synopsys during the first quarter worth $400,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Synopsys by 38.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,166 shares of the semiconductor company’s stock worth $1,238,000 after acquiring an additional 607 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of Synopsys by 66.7% in the 1st quarter. SteelPeak Wealth LLC now owns 1,000 shares of the semiconductor company’s stock worth $572,000 after acquiring an additional 400 shares in the last quarter. Finally, LVW Advisors LLC bought a new stake in shares of Synopsys in the 1st quarter worth $218,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Down 0.4 %

NASDAQ:SNPS traded down $2.16 during midday trading on Monday, hitting $499.42. 179,621 shares of the company traded hands, compared to its average volume of 1,067,094. The firm’s fifty day moving average is $508.43 and its 200-day moving average is $545.08. Synopsys, Inc. has a 12-month low of $455.00 and a 12-month high of $629.38. The firm has a market capitalization of $76.72 billion, a P/E ratio of 51.90, a P/E/G ratio of 3.52 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SNPS. Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus target price of $643.00.

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.