RWA Wealth Partners LLC Makes New $220,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

RWA Wealth Partners LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 427 shares of the semiconductor company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. Ameriprise Financial Inc. boosted its position in shares of Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after purchasing an additional 344,430 shares in the last quarter. FMR LLC lifted its position in shares of Synopsys by 8.9% during the 3rd 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of Synopsys by 228.8% during the 3rd 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 in the last quarter. International Assets Investment Management LLC increased its stake in shares of Synopsys by 52,466.9% during the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after purchasing an additional 175,764 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Synopsys by 140.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock worth $122,850,000 after purchasing an additional 156,404 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.6 %

SNPS stock opened at $543.66 on Friday. The firm’s 50-day moving average price is $563.73 and its two-hundred day moving average price is $535.97. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 59.87, a PEG ratio of 3.10 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 in the last three months. 0.66% of the stock is currently owned by company insiders.

Synopsys Profile

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.