Allworth Financial LP lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,450 shares of the semiconductor company’s stock after purchasing an additional 52 shares during the period. Allworth Financial LP’s holdings in Synopsys were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Freedom Wealth Alliance LLC acquired a new position in shares of Synopsys in the fourth quarter worth approximately $26,000. Ancora Advisors LLC acquired a new position in shares of Synopsys in the fourth quarter worth approximately $30,000. Kistler Tiffany Companies LLC acquired a new position in shares of Synopsys in the fourth quarter worth approximately $32,000. Compagnie Lombard Odier SCmA lifted its stake in shares of Synopsys by 470.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 114 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 94 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of Synopsys by 5,850.0% in the fourth quarter. Dark Forest Capital Management LP now owns 119 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 117 shares during the period. 85.44% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Synopsys
In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $391.43, for a total value of $1,565,720.00. Following the completion of the transaction, the chief accounting officer now owns 16,758 shares in the company, valued at approximately $6,559,583.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, CEO Geus Aart De sold 40,839 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total value of $17,486,443.02. Following the completion of the transaction, the chief executive officer now owns 94,421 shares in the company, valued at approximately $40,429,183.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $391.43, for a total value of $1,565,720.00. Following the completion of the transaction, the chief accounting officer now owns 16,758 shares of the company’s stock, valued at approximately $6,559,583.94. The disclosure for this sale can be found here. Insiders sold 141,964 shares of company stock worth $62,350,058 in the last quarter. 0.69% of the stock is currently owned by company insiders.
Synopsys Trading Up 1.8 %
Synopsys (NASDAQ:SNPS – Free Report) last announced its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.07. Synopsys had a return on equity of 16.29% and a net margin of 17.41%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. Synopsys’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post 7.52 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Synopsys in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Robert W. Baird boosted their price target on Synopsys from $445.00 to $447.00 in a research note on Thursday, May 18th. Wells Fargo & Company boosted their price target on Synopsys from $410.00 to $420.00 in a research note on Thursday, May 18th. Finally, Rosenblatt Securities upped their target price on Synopsys from $420.00 to $448.00 in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $434.70.
About Synopsys
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
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