Hohimer Wealth Management LLC Takes $491,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Hohimer Wealth Management LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,146 shares of the semiconductor company's stock, valued at approximately $491,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Advisors Capital Management LLC grew its position in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Peninsula Wealth LLC boosted its position in shares of Synopsys by 0.5% in the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after purchasing an additional 20 shares during the period. Williams Jones Wealth Management LLC. boosted its position in shares of Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares during the period. Finally, Ashton Thomas Securities LLC boosted its position in shares of Synopsys by 1.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company's stock worth $906,000 after purchasing an additional 23 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.4%

Shares of SNPS stock traded up $2.10 during trading hours on Wednesday, reaching $571.20. 7,925,967 shares of the stock were exchanged, compared to its average volume of 1,249,804. The business's fifty day moving average is $504.42 and its two-hundred day moving average is $481.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $604.83. The firm has a market capitalization of $88.63 billion, a P/E ratio of 41.24, a P/E/G ratio of 3.76 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNPS shares. KeyCorp upped their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Finally, Bank of America boosted their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $617.67.

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.