HighPoint Advisor Group LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

HighPoint Advisor Group LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,921 shares of the semiconductor company’s stock, valued at approximately $2,019,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Synopsys during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp raised its stake in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Quarry LP lifted its holdings in shares of Synopsys by 63.1% in the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 41 shares during the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at $56,000. Finally, Altshuler Shaham Ltd grew its holdings in shares of Synopsys by 157.1% during the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 1.2 %

Shares of SNPS stock opened at $620.31 on Wednesday. The stock has a fifty day moving average of $559.96 and a 200 day moving average of $553.04. The firm has a market capitalization of $95.04 billion, a price-to-earnings ratio of 67.43, a PEG ratio of 3.95 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $416.87 and a 52 week high of $629.38.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird increased their target price on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $616.18.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the transaction, 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. In the last three months, insiders have sold 23,288 shares of company stock valued at $13,527,485. 0.66% of the stock is currently owned by corporate insiders.

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.