WD Rutherford LLC Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

WD Rutherford LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70 shares of the semiconductor company’s stock, valued at approximately $40,000.

Several other institutional investors have also added to or reduced their stakes in SNPS. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys in the fourth quarter worth $28,000. Jones Financial Companies Lllp boosted its position in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. Rise Advisors LLC bought a new stake in Synopsys during the first quarter valued at $46,000. Quarry LP boosted its position in Synopsys by 63.1% during the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 41 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new stake in Synopsys during the fourth quarter valued at $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction 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 owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock valued at $20,970,824 over the last three months. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their price objective on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus target price of $624.36.

Synopsys Price Performance

NASDAQ:SNPS traded up $0.06 during mid-day trading on Friday, hitting $595.06. 1,019,091 shares of the company’s stock were exchanged, compared to its average volume of 868,943. 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 price of $569.90 and a 200 day moving average price of $556.47. The company has a market cap of $91.17 billion, a PE ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued 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 the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast 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.