537 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 537 shares of the semiconductor company’s stock, valued at approximately $277,000.

A number of other hedge funds also recently bought and sold shares of SNPS. Ameriprise Financial Inc. lifted its holdings in Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after buying an additional 344,430 shares during the period. FMR LLC lifted its holdings in Synopsys by 8.9% during the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares during the period. Wellington Management Group LLP lifted its holdings in Synopsys by 228.8% during the third quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock worth $177,517,000 after buying an additional 269,130 shares during the period. International Assets Investment Management LLC lifted its holdings in Synopsys by 52,466.9% during the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after buying an additional 175,764 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Synopsys by 140.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock worth $122,850,000 after buying an additional 156,404 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $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 the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $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 the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $13.55 during mid-day trading on Friday, hitting $543.66. The stock had a trading volume of 997,562 shares, compared to its average volume of 908,153. The company has a 50 day moving average of $563.73 and a two-hundred day moving average of $536.29. Synopsys, Inc. has a twelve month low of $362.06 and a twelve month high of $629.38. The firm has a market cap of $82.91 billion, a PE ratio of 59.87, a PEG ratio of 3.18 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

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