Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Horizon Investments LLC

Horizon Investments LLC raised its position in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 16.9% during the first quarter, HoldingsChannel.com reports. The firm owned 4,874 shares of the semiconductor company’s stock after buying an additional 706 shares during the quarter. Horizon Investments LLC’s holdings in Synopsys were worth $1,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. San Luis Wealth Advisors LLC acquired a new position in Synopsys during the first quarter valued at approximately $29,000. Confluence Wealth Services Inc. purchased a new stake in Synopsys during the 4th quarter worth $31,000. MCF Advisors LLC acquired a new stake in Synopsys in the 1st quarter valued at $40,000. Lansing Street Advisors purchased a new position in Synopsys in the first quarter valued at about $43,000. Finally, Curi Wealth Management LLC lifted its stake in shares of Synopsys by 106.8% during the first quarter. Curi Wealth Management LLC now owns 151 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 78 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. Atlantic Securities dropped their target price on Synopsys to $350.00 and set a “na” rating on the stock in a report on Thursday, May 19th. Needham & Company LLC upped their target price on shares of Synopsys from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Robert W. Baird lifted their price target on shares of Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Wells Fargo & Company raised their target price on Synopsys from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Finally, Bank of America raised Synopsys from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $325.00 to $360.00 in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.33.

Synopsys Stock Up 1.9 %

SNPS opened at $340.18 on Monday. The company’s 50-day moving average price is $345.78 and its 200 day moving average price is $319.08. Synopsys, Inc. has a fifty-two week low of $255.02 and a fifty-two week high of $391.17. The firm has a market cap of $52.02 billion, a price-to-earnings ratio of 51.62, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23.

Synopsys (NASDAQ:SNPSGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. Research analysts anticipate that Synopsys, Inc. will post 6.41 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, Director Chrysostomos L. Nikias sold 400 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $367.77, for a total value of $147,108.00. Following the transaction, the director now directly owns 23,395 shares of the company’s stock, valued at approximately $8,603,979.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $365.49, for a total transaction of $1,266,057.36. Following the sale, the insider now directly owns 22,623 shares of the company’s stock, valued at $8,268,480.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Chrysostomos L. Nikias sold 400 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $367.77, for a total value of $147,108.00. Following the transaction, the director now owns 23,395 shares in the company, valued at $8,603,979.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,182 shares of company stock worth $22,033,688. Corporate insiders own 1.20% of the company’s stock.

Synopsys Profile

(Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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