Monument Capital Management Purchases 20 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Monument Capital Management raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,880 shares of the semiconductor company’s stock after acquiring an additional 20 shares during the period. Monument Capital Management’s holdings in Synopsys were worth $1,074,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SNPS. Mutual Advisors LLC boosted its holdings in shares of 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 period. Fred Alger Management LLC boosted its stake in shares of Synopsys by 1.8% in the third 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 stake in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after buying an additional 2,227 shares during the period. Truist Financial Corp boosted its stake in shares of Synopsys by 119.2% in the third quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock valued at $12,680,000 after buying an additional 15,024 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Synopsys by 18.8% in the third quarter. Advisors Asset Management Inc. now owns 6,787 shares of the semiconductor company’s stock valued at $3,115,000 after buying an additional 1,072 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.1 %

Shares of NASDAQ:SNPS traded down $0.70 during trading on Wednesday, hitting $608.96. 205,603 shares of the company were exchanged, compared to its average volume of 1,085,493. The business’s 50 day moving average is $573.27 and its 200-day moving average is $557.04. The company has a market capitalization of $93.30 billion, a P/E ratio of 66.21, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company 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%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $1.76 earnings per share. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the stock in a transaction 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 completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,232 shares of company stock worth $21,436,741. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Piper Sandler reiterated 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. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird upped their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $625.82.

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.