Nilsine Partners LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Nilsine Partners LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.0% during the first quarter, Holdings Channel reports. The institutional investor owned 556 shares of the semiconductor company’s stock after acquiring an additional 46 shares during the quarter. Nilsine Partners LLC’s holdings in Synopsys were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Harbor Wealth Management LLC purchased a new stake in shares of Synopsys in the 1st quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys in the 4th quarter worth about $28,000. Venturi Wealth Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the 3rd quarter worth about $26,000. Finally, Jones Financial Companies Lllp grew its position in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In related news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 2.6 %

NASDAQ SNPS traded down $14.17 on Tuesday, reaching $530.59. 741,135 shares of the stock were exchanged, compared to its average volume of 1,224,312. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The firm has a market capitalization of $80.91 billion, a PE ratio of 58.44, a PEG ratio of 3.18 and a beta of 1.06. The company’s 50-day simple moving average is $563.22 and its two-hundred day simple moving average is $537.21.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Robert W. Baird increased their price objective 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. Finally, Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.