Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Chapin Davis Inc.

Chapin Davis Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,834 shares of the semiconductor company’s stock after acquiring an additional 134 shares during the quarter. Chapin Davis Inc.’s holdings in Synopsys were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Synopsys during the fourth quarter worth about $28,000. Jones Financial Companies Lllp grew its stake in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. WD Rutherford LLC purchased a new stake in shares of Synopsys during the first quarter worth approximately $40,000. Rise Advisors LLC purchased a new position in Synopsys in the 1st quarter valued at $46,000. Finally, Quarry LP increased its stake in Synopsys by 63.1% in the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus price target of $624.36.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders have sold 35,658 shares of company stock valued at $20,970,824 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.0 %

Shares of NASDAQ:SNPS opened at $595.06 on Monday. The business has a fifty day simple moving average of $569.90 and a 200-day simple moving average of $556.31. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The company has a market cap of $91.18 billion, a P/E ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.76 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 9.66 earnings per share 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.