Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,831 shares of the semiconductor company’s stock after buying an additional 283 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Synopsys worth $54,767,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its stake in 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 purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP grew its stake in Synopsys by 2.5% during 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. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares in the last quarter. Ignite Planners LLC grew its stake in Synopsys by 3.5% during 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, Monument Capital Management grew its stake in Synopsys by 1.1% during the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction 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 directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock valued at $49,361,263 in the last quarter. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNPS. Robert W. Baird raised their price objective on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler lifted their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $627.18.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $7.66 during mid-day trading on Friday, hitting $546.38. The company had a trading volume of 677,533 shares, compared to its average volume of 1,057,396. The stock has a market cap of $83.72 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 3.57 and a beta of 1.07. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The firm’s 50 day simple moving average is $589.14 and its two-hundred day simple moving average is $565.33.

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

Synopsys 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.