Crestone Asset Management LLC Sells 75 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Crestone Asset Management LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 493 shares of the semiconductor company’s stock after selling 75 shares during the quarter. Crestone Asset Management LLC’s holdings in Synopsys were worth $254,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Synopsys in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC purchased a new position in Synopsys in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC grew its position in shares of Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in shares of Synopsys during the fourth quarter worth about $56,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, 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. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last three months. 0.66% of the stock is owned by company insiders.

Synopsys Stock Up 0.2 %

NASDAQ SNPS traded up $0.88 on Wednesday, hitting $550.49. The company’s stock had a trading volume of 536,765 shares, compared to its average volume of 1,194,149. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The company’s 50-day moving average is $559.77 and its 200 day moving average is $539.03. The firm has a market cap of $83.95 billion, a PE ratio of 60.53, a PEG ratio of 3.14 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

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

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.