Measured Wealth Private Client Group LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,835 shares of the semiconductor company’s stock after acquiring an additional 335 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Synopsys were worth $326,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. JPMorgan Chase & Co. boosted its stake in Synopsys by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 3,125,440 shares of the semiconductor company’s stock worth $308,202,000 after buying an additional 90,267 shares in the last quarter. Legal & General Group Plc boosted its stake in Synopsys by 9.7% in the third quarter. Legal & General Group Plc now owns 901,210 shares of the semiconductor company’s stock worth $88,853,000 after buying an additional 79,623 shares in the last quarter. Morgan Stanley boosted its stake in Synopsys by 8.5% in the third quarter. Morgan Stanley now owns 225,386 shares of the semiconductor company’s stock worth $22,225,000 after buying an additional 17,622 shares in the last quarter. Vanguard Group Inc boosted its stake in Synopsys by 1.3% in the third quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock worth $1,563,115,000 after buying an additional 204,619 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in Synopsys by 4,987.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 407 shares of the semiconductor company’s stock worth $34,000 after buying an additional 399 shares in the last quarter. 91.17% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:SNPS opened at $123.17 on Friday. The company has a market cap of $18.44 billion, a PE ratio of 43.68, a P/E/G ratio of 3.80 and a beta of 1.30. Synopsys, Inc. has a fifty-two week low of $79.14 and a fifty-two week high of $124.12. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.51. The firm had revenue of $820.40 million during the quarter, compared to analyst estimates of $796.30 million. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Sell-side analysts anticipate that Synopsys, Inc. will post 3.17 earnings per share for the current year.
A number of analysts have recently weighed in on SNPS shares. DA Davidson increased their price objective on Synopsys to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Needham & Company LLC reissued a “buy” rating and set a $120.00 price objective on shares of Synopsys in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research note on Thursday, April 11th. Finally, KeyCorp started coverage on Synopsys in a research note on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $121.10.
In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the completion of the transaction, the general counsel now owns 21,071 shares in the company, valued at $2,143,131.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.51, for a total value of $547,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,190 shares of company stock valued at $14,729,218. 1.84% of the stock is owned by corporate insiders.
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Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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