Signet Financial Management LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Signet Financial Management LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,392 shares of the semiconductor company’s stock after purchasing an additional 25 shares during the period. Signet Financial Management LLC’s holdings in Synopsys were worth $2,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the 3rd quarter worth about $26,000. Freedom Wealth Alliance LLC purchased a new position in Synopsys during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in Synopsys during the 3rd quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Synopsys during the 3rd quarter valued at about $29,000. Finally, VitalStone Financial LLC purchased a new position in Synopsys during the 1st quarter valued at about $30,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is owned by insiders.

Synopsys Price Performance

Shares of SNPS traded down $3.13 on Tuesday, reaching $540.78. The company’s stock had a trading volume of 495,632 shares, compared to its average volume of 1,239,713. The stock has a market capitalization of $82.47 billion, a P/E ratio of 59.90, a PEG ratio of 3.25 and a beta of 1.06. The stock’s 50 day simple moving average is $569.53 and its two-hundred day simple moving average is $532.98. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNPS. Robert W. Baird lifted their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus target price of $601.00.

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.