Concord Wealth Partners Has $495,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Concord Wealth Partners increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 63.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 961 shares of the semiconductor company’s stock after purchasing an additional 373 shares during the period. Concord Wealth Partners’ holdings in Synopsys were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Mission Wealth Management LP boosted its stake in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after buying an additional 19 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after buying an additional 20 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Synopsys by 2.6% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock worth $394,000 after buying an additional 22 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Synopsys by 0.7% during the 4th quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock worth $1,625,000 after buying an additional 22 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of Synopsys by 0.7% during the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock worth $1,547,000 after buying an additional 23 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 1.6 %

Synopsys stock opened at $522.18 on Thursday. The stock has a market cap of $79.63 billion, a P/E ratio of 57.51, a P/E/G ratio of 3.10 and a beta of 1.07. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The company’s 50-day moving average price is $562.79 and its two-hundred day moving average price is $537.10.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $1.75 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SNPS. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird increased their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price on the stock. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Insider Transactions at Synopsys

In other news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by company 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.