WD Rutherford LLC Sells 50 Shares of Synopsys, Inc. (NASDAQ:SNPS)

WD Rutherford LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the semiconductor company’s stock after selling 50 shares during the period. WD Rutherford LLC’s holdings in Synopsys were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC raised its position in shares of Synopsys by 188.3% during the first quarter. FNY Investment Advisers LLC now owns 836 shares of the semiconductor company’s stock worth $358,000 after purchasing an additional 546 shares during the period. QRG Capital Management Inc. raised its holdings in Synopsys by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 41,065 shares of the semiconductor company’s stock worth $17,611,000 after buying an additional 291 shares during the period. Sagespring Wealth Partners LLC lifted its stake in Synopsys by 43.1% in the first quarter. Sagespring Wealth Partners LLC now owns 1,787 shares of the semiconductor company’s stock valued at $766,000 after buying an additional 538 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Synopsys in the first quarter valued at approximately $409,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Synopsys by 12.4% in the first quarter. Janney Montgomery Scott LLC now owns 56,514 shares of the semiconductor company’s stock valued at $24,236,000 after buying an additional 6,236 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNPS shares. Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, Rosenblatt Securities lowered their price objective on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Price Performance

Shares of SNPS stock opened at $479.41 on Tuesday. The company has a fifty day moving average price of $468.27 and a two-hundred day moving average price of $480.35. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The stock has a market cap of $74.39 billion, a P/E ratio of 33.02, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. Synopsys’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $3.00 EPS. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

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.