ZRC Wealth Management LLC Makes New $40,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

ZRC Wealth Management LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 70 shares of the semiconductor company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted 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 bought a new stake in shares of Synopsys in the 1st quarter valued at $40,000. Rise Advisors LLC acquired a new stake in shares of Synopsys during the first quarter worth $46,000. Finally, Quarry LP raised its stake in Synopsys by 63.1% during the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 0.4 %

SNPS opened at $606.99 on Friday. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The company has a market cap of $93.00 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 3.92 and a beta of 1.07. The company’s fifty day moving average price is $576.39 and its two-hundred day moving average price is $557.73.

Synopsys (NASDAQ:SNPS) last posted 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 return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The company’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,339,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders sold a total of 36,232 shares of company stock valued at $21,436,741 over the last ninety days. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird raised their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, KeyCorp increased their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $625.82.

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.