RFG Advisory LLC Takes $217,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

RFG Advisory LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 421 shares of the semiconductor company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in shares of Synopsys during the third quarter worth about $26,000. Freedom Wealth Alliance LLC purchased a new position in shares of Synopsys during the fourth quarter worth about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the third quarter worth about $29,000. Finally, VitalStone Financial LLC purchased a new position in shares of Synopsys during the first quarter worth about $30,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $557.16 on Friday. The firm has a market cap of $84.97 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The business has a 50 day moving average price of $569.84 and a 200-day moving average price of $531.80.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNPS. Robert W. Baird boosted their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $601.00.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by company insiders.

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.