Forza Wealth Management LLC Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Forza Wealth Management LLC lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 875 shares of the semiconductor company’s stock after selling 550 shares during the period. Forza Wealth Management LLC’s holdings in Synopsys were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Gotham Asset Management LLC grew its holdings in shares of Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares in the last quarter. abrdn plc boosted its position in Synopsys by 56.9% during the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after acquiring an additional 30,581 shares in the last quarter. Comerica Bank bought a new stake in shares of Synopsys during the third quarter valued at approximately $14,203,000. Simplicity Solutions LLC grew its position in shares of Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the period. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Synopsys in the third quarter worth about $1,606,000. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Marc N. Casper purchased 750 shares of Synopsys stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the purchase, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the transaction, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of SNPS stock traded up $1.10 during trading hours on Monday, reaching $544.76. The company had a trading volume of 647,477 shares, compared to its average volume of 1,230,210. Synopsys, Inc. has a 12-month low of $365.46 and a 12-month high of $629.38. The company has a market capitalization of $83.08 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.18 and a beta of 1.06. The stock has a fifty day moving average of $563.56 and a 200-day moving average of $536.92.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. On average, analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Eleven investment 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 price target of $601.00.

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.