Ignite Planners LLC Has $344,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Ignite Planners LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596 shares of the semiconductor company’s stock after buying an additional 20 shares during the quarter. Ignite Planners LLC’s holdings in Synopsys were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its holdings in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the period. Rise Advisors LLC acquired a new position in Synopsys in the 1st quarter valued at $46,000. Quarry LP raised its holdings in Synopsys by 63.1% in the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 41 shares during the period. Finally, Keener Financial Planning LLC acquired a new position in Synopsys during the 4th quarter worth $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ SNPS opened at $595.60 on Tuesday. The stock has a market cap of $91.26 billion, a PE ratio of 64.74, a PEG ratio of 3.91 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $416.87 and a twelve month high of $629.38. The firm has a 50-day simple moving average of $564.10 and a 200 day simple moving average of $555.17.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 EPS. Research analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price target (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $616.18.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’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 transaction, the insider now owns 20,000 shares in the company, 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 news, insider John F. Runkel, Jr. sold 1,239 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,658,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $3,081,669.03. Following 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 sold a total of 23,288 shares of company stock worth $13,527,485 over the last quarter. Company insiders own 0.66% of the company’s stock.

About Synopsys

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.