First Trust Direct Indexing L.P. Acquires 380 Shares of Synopsys, Inc. (NASDAQ:SNPS)

First Trust Direct Indexing L.P. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,475 shares of the semiconductor company’s stock after acquiring an additional 380 shares during the period. First Trust Direct Indexing L.P.’s holdings in Synopsys were worth $2,304,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in shares of Synopsys in the third quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in Synopsys during the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Synopsys during the 3rd quarter worth approximately $29,000. Keener Financial Planning LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $56,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 29 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Piper Sandler started coverage on Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

SNPS stock traded down $9.71 during mid-day trading on Thursday, reaching $512.47. 146,101 shares of the company’s stock were exchanged, compared to its average volume of 1,205,346. Synopsys, Inc. has a 12-month low of $365.46 and a 12-month high of $629.38. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. The stock’s 50 day moving average is $562.79 and its 200 day moving average is $537.10.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 in the last quarter. 0.66% of the stock is owned by company insiders.

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.