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

RFG Advisory LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel reports. The firm bought 421 shares of the semiconductor company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its holdings in Synopsys by 2.6% during the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock valued at $2,510,213,000 after acquiring an additional 166,992 shares during the period. FMR LLC boosted its holdings in Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after acquiring an additional 330,206 shares during the period. Geode Capital Management LLC boosted its holdings in Synopsys by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after acquiring an additional 52,624 shares during the period. Norges Bank purchased a new position in Synopsys during the 4th quarter valued at $891,507,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Synopsys by 6.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock worth $686,556,000 after buying an additional 133,703 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Synopsys Stock Performance

Synopsys stock opened at $557.16 on Friday. The business’s 50-day simple moving average is $569.84 and its two-hundred day simple moving average is $531.80. The company has a market cap of $84.97 billion, a PE ratio of 61.36, a PEG 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.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results 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 the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by 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.