Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Signet Financial Management LLC

Signet Financial Management LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,392 shares of the semiconductor company’s stock after buying an additional 25 shares during the quarter. Signet Financial Management LLC’s holdings in Synopsys were worth $2,261,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Synopsys in the 3rd quarter worth approximately $26,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Synopsys during the 4th quarter valued at $26,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at $29,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Synopsys in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SNPS. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Finally, Robert W. Baird lifted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $601.00.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 0.6 %

SNPS traded down $3.13 during trading on Tuesday, hitting $540.78. The stock had a trading volume of 495,632 shares, compared to its average volume of 1,239,713. The company has a 50 day simple moving average of $569.53 and a 200-day simple moving average of $532.98. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The firm has a market cap of $82.47 billion, a PE ratio of 59.90, a P/E/G ratio of 3.25 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

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.