Glassman Wealth Services Acquires 49 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Glassman Wealth Services lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 314 shares of the semiconductor company’s stock after buying an additional 49 shares during the quarter. Glassman Wealth Services’ holdings in Synopsys were worth $162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the period. Mission Wealth Management LP increased its position in Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 19 shares during the period. Fred Alger Management LLC grew its position in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after buying an additional 20 shares during the period. Allstate Corp grew its position in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after buying an additional 21 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp grew its position in shares of Synopsys by 2.6% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock worth $394,000 after buying an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ SNPS traded up $1.10 during trading on Monday, hitting $587.40. The stock had a trading volume of 725,800 shares, compared to its average volume of 1,139,357. The company has a market capitalization of $89.58 billion, a PE ratio of 63.85, a P/E/G ratio of 3.57 and a beta of 1.07. The company’s 50-day moving average price is $558.67 and its two-hundred day moving average price is $547.57. Synopsys, Inc. has a 12 month low of $409.83 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The company’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Thursday. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $616.18.

Insider Transactions at Synopsys

In related news, Director Marc N. Casper acquired 750 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the business’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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.

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.