Truvestments Capital LLC Has $463,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Truvestments Capital LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 811 shares of the semiconductor company’s stock after selling 388 shares during the period. Truvestments Capital LLC’s holdings in Synopsys were worth $463,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its holdings in shares of Synopsys by 0.8% in the 4th 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. Mission Wealth Management LP raised its holdings in shares of Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC raised its holdings in shares of Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 20 shares during the period. Finally, Monument Capital Management raised its holdings in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird increased their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Piper Sandler increased their price target on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has an average rating of “Buy” and a consensus target price of $627.18.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 4,212 shares of the firm’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 completion of 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. In the last 90 days, insiders have sold 81,363 shares of company stock worth $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.4 %

Shares of SNPS traded up $7.66 during mid-day trading on Friday, hitting $546.38. 677,583 shares of the company’s stock were exchanged, compared to its average volume of 752,132. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The stock’s 50-day simple moving average is $589.14 and its 200-day simple moving average is $565.77. The firm has a market cap of $83.71 billion, a price-to-earnings ratio of 59.39, a price-to-earnings-growth ratio of 3.48 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm 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 business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 EPS. Analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

About Synopsys

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.