Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by WD Rutherford LLC

WD Rutherford LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 47.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,647 shares of the semiconductor company’s stock after acquiring an additional 532 shares during the period. WD Rutherford LLC’s holdings in Synopsys were worth $834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Andina Capital Management LLC increased its stake in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC increased its stake in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 20 shares in the last quarter. Hilltop National Bank lifted its holdings in shares of Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the period. Finally, Green Alpha Advisors LLC grew its holdings in Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of Synopsys stock opened at $529.21 on Wednesday. The company’s fifty day moving average price is $506.64 and its two-hundred day moving average price is $544.42. The firm has a market capitalization of $81.29 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $455.00 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 EPS. Analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Piper Sandler reduced their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has an average rating of “Buy” and an average target price of $643.00.

Synopsys 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.