FFT Wealth Management LLC Acquires Shares of 3,372 Synopsys, Inc. (NASDAQ:SNPS)

FFT Wealth Management LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,372 shares of the semiconductor company's stock, valued at approximately $1,736,000.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC increased its position in shares of Synopsys by 8.9% during the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company's stock valued at $1,850,594,000 after buying an additional 330,206 shares during the period. Ameriprise Financial Inc. increased its holdings in Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company's stock worth $925,744,000 after acquiring an additional 344,430 shares during the period. Northern Trust Corp lifted its stake in Synopsys by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company's stock worth $774,559,000 after purchasing an additional 78,848 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Synopsys by 25.8% in the 4th quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company's stock valued at $478,545,000 after purchasing an additional 190,330 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Synopsys by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company's stock valued at $406,227,000 after purchasing an additional 36,470 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Down 1.6 %

Shares of SNPS stock traded down $8.41 during midday trading on Wednesday, reaching $522.18. 746,004 shares of the stock were exchanged, compared to its average volume of 1,218,623. The firm has a market cap of $79.63 billion, a PE ratio of 58.44, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. The company's 50 day moving average is $563.22 and its two-hundred day moving average is $537.21. Synopsys, Inc. has a 1 year low of $365.46 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $1.75 earnings per share. The firm's quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper bought 750 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company's stock, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Marc N. Casper purchased 750 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNPS. Robert W. Baird boosted their target price on Synopsys from $624.00 to $640.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an "overweight" rating and a $665.00 price target on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Needham & Company LLC reissued a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Finally, StockNews.com raised Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $601.00.

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.

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