Several other institutional investors and hedge funds have also modified their holdings of SNPS. Tortoise Investment Management LLC boosted its holdings in Synopsys by 64.7% in the second quarter. Tortoise Investment Management LLC now owns 84 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 33 shares in the last quarter. MV Capital Management Inc. boosted its holdings in Synopsys by 47.2% in the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 42 shares in the last quarter. Clearstead Advisors LLC bought a new stake in Synopsys in the second quarter worth $42,000. Larson Financial Group LLC bought a new stake in Synopsys in the second quarter worth $44,000. Finally, SouthState Corp bought a new stake in Synopsys in the second quarter worth $50,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Synopsys
In other Synopsys news, COO Sassine Ghazi sold 29,136 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $329.93, for a total value of $9,612,840.48. Following the sale, the chief operating officer now directly owns 52,609 shares in the company, valued at $17,357,287.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Atlantic Securities assumed coverage on shares of Synopsys in a report on Tuesday, January 17th. They set an “overweight” rating for the company. Wells Fargo & Company cut their price objective on shares of Synopsys from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Tuesday, November 22nd. Bank of America raised shares of Synopsys from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research report on Friday, December 16th. Rosenblatt Securities reissued a “buy” rating and issued a $420.00 price target on shares of Synopsys in a research report on Tuesday. Finally, Edward Jones assumed coverage on shares of Synopsys in a research report on Wednesday, November 16th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $420.55.
Synopsys Price Performance
SNPS opened at $375.94 on Wednesday. Synopsys, Inc. has a one year low of $255.02 and a one year high of $391.17. The company’s 50 day simple moving average is $337.86 and its 200-day simple moving average is $330.40. The stock has a market capitalization of $57.30 billion, a P/E ratio of 59.67, a price-to-earnings-growth ratio of 2.91 and a beta of 1.21.
Synopsys (NASDAQ:SNPS – Get Rating) last announced its quarterly earnings data on Wednesday, November 30th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.12). Synopsys had a net margin of 19.38% and a return on equity of 17.24%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, analysts anticipate that Synopsys, Inc. will post 7.81 EPS for the current year.
Synopsys Profile
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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.
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