Bogart Wealth LLC Purchases 388 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bogart Wealth LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.1% in the first quarter, Holdings Channel.com reports. The fund owned 13,010 shares of the semiconductor company’s stock after purchasing an additional 388 shares during the period. Bogart Wealth LLC’s holdings in Synopsys were worth $5,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Synopsys in the fourth quarter worth $583,608,000. GAMMA Investing LLC grew its stake in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Synopsys in the fourth quarter worth about $239,864,000. Finally, Ameriprise Financial Inc. boosted its position in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after acquiring an additional 391,681 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 1.2%

SNPS opened at $559.28 on Monday. The firm has a 50-day simple moving average of $499.27 and a two-hundred day simple moving average of $479.93. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $621.24. The company has a market capitalization of $86.78 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. Analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Bank of America decreased their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research note on Thursday. They set a “buy” rating and a $620.00 target price for the company. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $612.67.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

About Synopsys

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.