70 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by ZRC Wealth Management LLC

ZRC Wealth Management LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 1st quarter, Holdings Channel.com reports. The fund acquired 70 shares of the semiconductor company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Coldstream Capital Management Inc. grew its stake in shares of Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of Synopsys by 2.5% in 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. Ignite Planners LLC increased its holdings in shares of Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares in the last quarter. Monument Capital Management raised its position in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the last quarter. Finally, Allstate Corp boosted its stake in Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the transaction, the director now owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.90, for a total value of $722,213.10. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,658,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total value of $3,197,590.00. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $897,069.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,232 shares of company stock worth $21,436,741. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, Piper Sandler reaffirmed 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. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $625.82.

Synopsys Price Performance

Shares of SNPS opened at $606.99 on Friday. The firm has a market capitalization of $93.00 billion, a P/E ratio of 65.98, a PEG ratio of 3.92 and a beta of 1.07. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The business has a fifty day moving average of $576.39 and a 200 day moving average of $557.73.

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