Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 750 shares of the semiconductor company’s stock after buying an additional 200 shares during the quarter. New England Research & Management Inc.’s holdings in Synopsys were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SNPS. Norges Bank bought a new stake in shares of Synopsys in the 4th quarter worth about $1,272,143,000. Global Assets Advisory LLC acquired a new position in shares of Synopsys in the 1st quarter worth approximately $282,876,000. Ameriprise Financial Inc. increased its holdings in shares of Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after acquiring an additional 344,430 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Synopsys by 228.8% during the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after acquiring an additional 269,130 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after purchasing an additional 203,601 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Insiders have sold 35,658 shares of company stock valued at $20,970,824 in the last quarter. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird raised their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $624.36.

Synopsys Trading Up 0.0 %

Shares of NASDAQ:SNPS opened at $595.06 on Friday. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a market cap of $91.17 billion, a P/E ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. The company has a 50 day moving average of $569.90 and a 200-day moving average of $556.47.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion during 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 business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $1.76 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current year.

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.