1,535 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Richardson Financial Services Inc.

Richardson Financial Services Inc. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,535 shares of the semiconductor company’s stock, valued at approximately $790,000.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. Coldstream Capital Management Inc. raised its position in shares of Synopsys by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the period. Mission Wealth Management LP grew its holdings in Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after buying an additional 19 shares in the last quarter. Fred Alger Management LLC grew its holdings in Synopsys by 1.8% during the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after buying an additional 20 shares in the last quarter. Allstate Corp grew its holdings in Synopsys by 4.7% during the fourth quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after buying an additional 21 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Synopsys by 0.7% during the fourth quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock worth $1,625,000 after buying an additional 22 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 0.6 %

SNPS traded up $3.67 during trading on Friday, reaching $590.21. 600,800 shares of the company were exchanged, compared to its average volume of 851,994. The company’s 50-day moving average is $558.20 and its two-hundred day moving average is $552.03. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 64.15, a P/E/G ratio of 3.78 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $416.87 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results 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). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business earned $1.76 EPS. The business’s revenue was up 15.2% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird upped their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and issued a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $616.18.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc N. Casper acquired 750 shares of Synopsys stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 23,288 shares of company stock valued at $13,527,485 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

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.