Axxcess Wealth Management LLC Buys 356 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Axxcess Wealth Management LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.8% during the 2nd quarter, Holdings Channel reports. The fund owned 4,386 shares of the semiconductor company’s stock after acquiring an additional 356 shares during the period. Axxcess Wealth Management LLC’s holdings in Synopsys were worth $2,610,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SNPS. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the fourth quarter worth approximately $28,000. Chris Bulman Inc bought a new position in Synopsys in the second quarter worth approximately $30,000. Jones Financial Companies Lllp grew its stake in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 in the last ninety days. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $502.25 on Wednesday. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The firm has a 50-day moving average price of $532.47 and a two-hundred day moving average price of $558.06. The firm has a market cap of $76.95 billion, a price-to-earnings ratio of 54.59, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $2.17 earnings per share. Synopsys’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird upped 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. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $630.09.

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.