Howland Capital Management LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Howland Capital Management LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 68.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,286 shares of the semiconductor company’s stock after purchasing an additional 11,461 shares during the period. Howland Capital Management LLC’s holdings in Synopsys were worth $16,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. abrdn plc grew its stake in Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the last quarter. Bridgefront Capital LLC purchased a new position in Synopsys in the fourth quarter valued at about $951,000. Vanguard Group Inc. grew its stake in Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares during the last quarter. Simplicity Solutions LLC grew its stake in Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 1,539 shares during the last quarter. Finally, Comerica Bank purchased a new position in Synopsys in the third quarter valued at about $14,203,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.7 %

NASDAQ SNPS traded down $10.82 during trading hours on Thursday, hitting $608.74. 552,877 shares of the company were exchanged, compared to its average volume of 1,070,910. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The firm has a market cap of $93.27 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 3.97 and a beta of 1.07. The company has a 50 day moving average of $582.85 and a two-hundred day moving average of $559.61.

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

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the sale, the director now directly owns 1,543 shares in the company, valued at approximately $897,069.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 27,753 shares of Synopsys stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,222 shares of company stock worth $43,691,039. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Piper Sandler raised their price target on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Finally, Robert W. Baird raised their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average target price of $627.18.

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.