70 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by WD Rutherford LLC

WD Rutherford LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 70 shares of the semiconductor company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNPS. Coldstream Capital Management Inc. lifted its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after buying an additional 18 shares in the last quarter. Mission Wealth Management LP lifted its holdings in Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 20 shares in the last quarter. Ignite Planners LLC lifted its holdings in Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 20 shares in the last quarter. Finally, Allstate Corp lifted its holdings in Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,658 shares of company stock valued at $20,970,824. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock traded up $0.06 during mid-day trading on Friday, hitting $595.06. 1,019,091 shares of the stock traded hands, compared to its average volume of 868,943. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a market cap of $91.17 billion, a price-to-earnings ratio of 64.68, a price-to-earnings-growth ratio of 3.84 and a beta of 1.08. The company’s 50-day simple moving average is $569.90 and its 200-day simple moving average is $556.47.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $1.76 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $624.36.

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.