Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by IFP Advisors Inc

IFP Advisors Inc decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 625 shares of the semiconductor company’s stock after selling 233 shares during the period. IFP Advisors Inc’s holdings in Synopsys were worth $73,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Synopsys by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 176,442 shares of the semiconductor company’s stock worth $53,905,000 after purchasing an additional 929 shares during the last quarter. Fulton Bank N.A. grew its stake in Synopsys by 34.0% during the fourth quarter. Fulton Bank N.A. now owns 1,481 shares of the semiconductor company’s stock worth $473,000 after buying an additional 376 shares during the period. Synovus Financial Corp purchased a new stake in Synopsys during the fourth quarter worth approximately $345,000. NorthRock Partners LLC grew its stake in Synopsys by 6.9% during the fourth quarter. NorthRock Partners LLC now owns 943 shares of the semiconductor company’s stock worth $301,000 after buying an additional 61 shares during the period. Finally, Seed Wealth Management Inc. purchased a new stake in Synopsys during the fourth quarter worth approximately $345,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at Synopsys

In related news, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the transaction, the chief accounting officer now owns 16,723 shares of the company’s stock, valued at $6,038,340.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $353.91, for a total value of $1,225,944.24. Following the transaction, the insider now owns 25,112 shares of the company’s stock, valued at $8,887,387.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of Synopsys stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,723 shares in the company, valued at approximately $6,038,340.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,464 shares of company stock valued at $4,235,984. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SNPS shares. Atlantic Securities started coverage on shares of Synopsys in a research note on Tuesday, January 17th. They issued an “overweight” rating for the company. Needham & Company LLC upped their target price on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Rosenblatt Securities restated a “buy” rating and issued a $420.00 target price on shares of Synopsys in a research note on Tuesday, February 14th. Wells Fargo & Company upped their target price on shares of Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Finally, StockNews.com started coverage on shares of Synopsys in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $424.18.

Synopsys Price Performance

Shares of SNPS opened at $373.28 on Tuesday. Synopsys, Inc. has a one year low of $267.00 and a one year high of $392.79. The company has a 50-day moving average of $373.08 and a two-hundred day moving average of $348.62. The stock has a market cap of $56.85 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 3.30 and a beta of 1.18.

Synopsys (NASDAQ:SNPS – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Analysts anticipate that Synopsys, Inc. will post 7.2 earnings per share for the current year.

Synopsys Company Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.