Farther Finance Advisors LLC Purchases 158 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Farther Finance Advisors LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 9.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,899 shares of the semiconductor company’s stock after buying an additional 158 shares during the period. Farther Finance Advisors LLC’s holdings in Synopsys were worth $828,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank grew its position in shares of Synopsys by 118.2% during the first quarter. Bangor Savings Bank now owns 2,843 shares of the semiconductor company’s stock valued at $1,219,000 after purchasing an additional 1,540 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Synopsys by 9.2% during the first quarter. Park Avenue Securities LLC now owns 11,217 shares of the semiconductor company’s stock valued at $4,810,000 after purchasing an additional 941 shares in the last quarter. Barden Capital Management Inc. grew its position in shares of Synopsys by 3.4% during the first quarter. Barden Capital Management Inc. now owns 1,894 shares of the semiconductor company’s stock valued at $812,000 after purchasing an additional 62 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Synopsys by 27.1% during the first quarter. Sivia Capital Partners LLC now owns 614 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 131 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its position in shares of Synopsys by 25.9% during the first quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $478.86 on Friday. The company has a market cap of $74.30 billion, a P/E ratio of 32.98, a PEG ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a 50-day simple moving average of $466.31 and a two-hundred day simple moving average of $481.83.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 earnings per share. As a group, equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now directly owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNPS. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. KeyCorp set a $540.00 price target on shares of Synopsys in a report on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.14.

Synopsys Company 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.