First Trust Direct Indexing L.P. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

First Trust Direct Indexing L.P. grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,475 shares of the semiconductor company’s stock after acquiring an additional 380 shares during the period. First Trust Direct Indexing L.P.’s holdings in Synopsys were worth $2,304,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mission Wealth Management LP boosted its position in shares of Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 19 shares during the last quarter. Fred Alger Management LLC increased its stake in Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after acquiring an additional 20 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp grew its holdings in shares of Synopsys by 2.6% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. increased its position in Synopsys by 0.7% in the fourth quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock worth $1,625,000 after purchasing an additional 22 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in Synopsys by 0.7% during the third quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.9 %

Shares of NASDAQ:SNPS traded down $9.71 during trading on Thursday, hitting $512.47. The stock had a trading volume of 146,101 shares, compared to its average volume of 1,205,346. Synopsys, Inc. has a 12-month low of $365.46 and a 12-month high of $629.38. The stock has a 50-day simple moving average of $562.79 and a two-hundred day simple moving average of $537.10. The stock has a market capitalization of $78.15 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, 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 transaction, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last ninety days. Company insiders own 0.66% of the company’s stock.

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.