Hohimer Wealth Management LLC Invests $778,000 in Synopsys, Inc. (NASDAQ:SNPS)

Hohimer Wealth Management LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,362 shares of the semiconductor company’s stock, valued at approximately $778,000.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Synopsys in the 4th quarter valued at approximately $1,272,143,000. Global Assets Advisory LLC purchased a new position in Synopsys in the 1st quarter valued at approximately $282,876,000. Wellington Management Group LLP grew its stake in Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after buying an additional 269,130 shares in the last quarter. Van ECK Associates Corp grew its stake in Synopsys by 25.0% in the 1st quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after buying an additional 232,731 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird boosted their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $627.18.

Synopsys Price Performance

Synopsys stock traded down $3.00 during mid-day trading on Tuesday, hitting $613.01. The company’s stock had a trading volume of 473,328 shares, compared to its average volume of 1,058,025. The stock has a market cap of $93.93 billion, a price-to-earnings ratio of 66.59, a price-to-earnings-growth ratio of 3.96 and a beta of 1.07. The business has a 50 day moving average price of $587.51 and a 200-day moving average price of $561.85. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.90, for a total value of $722,213.10. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,658,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John F. Runkel, Jr. sold 1,239 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,658,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,870 shares of company stock worth $49,055,307. 0.66% of the stock is currently 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.