Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Kowal Investment Group LLC

Kowal Investment Group LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 581 shares of the semiconductor company’s stock after acquiring an additional 120 shares during the quarter. Kowal Investment Group LLC’s holdings in Synopsys were worth $332,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SNPS. Mutual Advisors LLC boosted its position in Synopsys by 3.1% during the third quarter. Mutual Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 26 shares during the last quarter. Sherbrooke Park Advisers LLC boosted its holdings in shares of Synopsys by 54.2% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 771 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 271 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares during the period. Gotham Asset Management LLC boosted its position in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares during the period. Finally, Truist Financial Corp boosted its position in Synopsys by 119.2% during the 3rd quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock worth $12,680,000 after purchasing an additional 15,024 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now owns 106,983 shares in the company, valued at $64,195,149.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’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 sale, the insider now owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,658 shares of company stock worth $20,970,824. 0.66% of the stock is owned by company insiders.

Synopsys Stock Up 1.1 %

SNPS opened at $601.75 on Tuesday. The firm has a market cap of $92.20 billion, a price-to-earnings ratio of 65.41, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The company’s 50-day moving average price is $569.90 and its 200 day moving average price is $556.31.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. Synopsys’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. Research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird upped their price objective on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Finally, KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Eleven investment 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 target price of $624.36.

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.