Planned Solutions Inc. Purchases Shares of 210 Synopsys, Inc. (NASDAQ:SNPS)

Planned Solutions Inc. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 210 shares of the semiconductor company’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in Synopsys in the 3rd quarter worth $26,000. Freedom Wealth Alliance LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Synopsys in the third quarter worth $29,000. Finally, VitalStone Financial LLC bought a new stake in Synopsys in the first quarter valued at $30,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.9 %

Shares of SNPS opened at $573.35 on Thursday. The firm has a 50 day moving average of $560.11 and a 200 day moving average of $521.79. Synopsys, Inc. has a twelve month low of $360.36 and a twelve month high of $629.38. The company has a market capitalization of $87.46 billion, a P/E ratio of 63.14, a price-to-earnings-growth ratio of 3.32 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm posted $1.75 earnings per share. Synopsys’s revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 10.06 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Wells Fargo & Company increased their price objective on Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Robert W. Baird upped their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $594.60.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 2,508 shares of Synopsys stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Synopsys news, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 2,508 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $13,555,500.40. The disclosure for this sale can be found here. Insiders sold 36,586 shares of company stock valued at $19,868,728 over the last three months. 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.