Green Alpha Advisors LLC Buys 21 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Green Alpha Advisors LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358 shares of the semiconductor company’s stock after purchasing an additional 21 shares during the quarter. Green Alpha Advisors LLC’s holdings in Synopsys were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNPS. Coldstream Capital Management Inc. raised its stake in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after buying an additional 18 shares during the last quarter. Mission Wealth Management LP raised its stake in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 19 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares during the last quarter. Allstate Corp raised its stake in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 21 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Synopsys by 0.7% during the 4th quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock valued at $1,625,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marc N. Casper bought 750 shares of the stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 23,288 shares of company stock worth $13,527,485 in the last ninety days. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler restated an “overweight” rating and issued a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird lifted their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $616.18.

Synopsys Price Performance

SNPS stock traded down $10.13 during trading on Thursday, hitting $610.18. The stock had a trading volume of 1,154,861 shares, compared to its average volume of 1,110,176. Synopsys, Inc. has a twelve month low of $416.87 and a twelve month high of $629.38. The stock has a market capitalization of $93.49 billion, a P/E ratio of 67.43, a PEG ratio of 4.00 and a beta of 1.08. The company’s 50-day moving average price is $561.14 and its two-hundred day moving average price is $553.51.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data 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 analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side 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.