Planned Solutions Inc. Buys Shares of 210 Synopsys, Inc. (NASDAQ:SNPS)

Planned Solutions Inc. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 210 shares of the semiconductor company’s stock, valued at approximately $108,000.

Other hedge funds have also recently added to or reduced their stakes in the company. HMS Capital Management LLC lifted its stake in Synopsys by 121.8% during the fourth quarter. HMS Capital Management LLC now owns 1,559 shares of the semiconductor company’s stock valued at $803,000 after purchasing an additional 856 shares during the last quarter. Dash Acquisitions Inc. acquired a new stake in shares of Synopsys during the 4th quarter valued at about $303,000. Assenagon Asset Management S.A. raised its position in Synopsys by 103.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 173,913 shares of the semiconductor company’s stock valued at $89,550,000 after acquiring an additional 88,483 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Synopsys by 113.9% during the 4th quarter. Oak Ridge Investments LLC now owns 11,034 shares of the semiconductor company’s stock worth $5,682,000 after purchasing an additional 5,875 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Synopsys by 8.2% in the 4th quarter. Pacer Advisors Inc. now owns 22,157 shares of the semiconductor company’s stock valued at $11,409,000 after purchasing an additional 1,684 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.9 %

Shares of SNPS stock opened at $573.35 on Thursday. The firm’s 50 day moving average is $560.11 and its 200-day moving average is $521.79. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The firm has a market capitalization of $87.46 billion, a price-to-earnings ratio of 63.14, a PEG ratio of 3.32 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business earned $1.75 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Insiders sold a total of 36,586 shares of company stock valued at $19,868,728 over the last three months. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price objective on Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Robert W. Baird lifted their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $594.60.

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.