New England Research & Management Inc. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

New England Research & Management Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 36.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 750 shares of the semiconductor company’s stock after buying an additional 200 shares during the period. New England Research & Management Inc.’s holdings in Synopsys were worth $429,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake 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 worth $1,130,000 after purchasing an additional 18 shares during the period. Mission Wealth Management LP increased its holdings in 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 acquiring an additional 19 shares during the last quarter. Fred Alger Management LLC boosted its stake in Synopsys by 1.8% during the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of 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 purchasing an additional 20 shares in the last quarter. Finally, Allstate Corp grew its stake in shares of Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after buying an additional 21 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Insiders have sold a total of 35,658 shares of company stock worth $20,970,824 over the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.0 %

Shares of Synopsys stock opened at $595.06 on Friday. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The firm’s 50 day moving average price is $569.90 and its 200-day moving average price is $556.47. The company has a market cap of $91.17 billion, a P/E ratio of 64.68, a PEG ratio of 3.84 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upped their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $624.36.

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.