Hobbs Group Advisors LLC Invests $40,000 in Synopsys, Inc. (NASDAQ:SNPS)

Hobbs Group Advisors LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68 shares of the semiconductor company’s stock, valued at approximately $40,000.

A number of other large investors also recently modified their holdings of SNPS. Coldstream Capital Management Inc. increased its position in shares of Synopsys by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares during the period. Andina Capital Management LLC grew its position in Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares during the period. Mission Wealth Management LP grew its position in Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after acquiring an additional 19 shares during the period. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the period. Finally, Ignite Planners LLC grew its position in Synopsys by 3.5% in the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of analyst reports. Rosenblatt Securities upped their price target on Synopsys from $615.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, Robert W. Baird increased their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $629.00.

Synopsys Trading Up 0.8 %

Shares of NASDAQ SNPS traded up $4.27 during mid-day trading on Wednesday, reaching $561.30. 179,480 shares of the company’s stock were exchanged, compared to its average volume of 1,059,300. The firm has a market capitalization of $86.00 billion, a price-to-earnings ratio of 60.94, a PEG ratio of 3.58 and a beta of 1.07. The business has a fifty day simple moving average of $573.18 and a 200 day simple moving average of $566.67. Synopsys, Inc. has a twelve month low of $433.82 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for 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 company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. Equities research analysts predict that Synopsys, Inc. will post 9.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 1,239 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,658,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 1,239 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.90, for a total value of $722,213.10. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,658,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,363 shares of company stock worth $49,361,263. 0.66% of the stock is owned by corporate insiders.

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.