Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Veracity Capital LLC

Veracity Capital LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 21.2% in the 1st quarter, HoldingsChannel reports. The fund owned 897 shares of the semiconductor company’s stock after acquiring an additional 157 shares during the period. Veracity Capital LLC’s holdings in Synopsys were worth $513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after buying an additional 19 shares during the last quarter. Ignite Planners LLC lifted its position in shares of Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after buying an additional 20 shares during the last quarter. Monument Capital Management raised its position in Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares during the last quarter. Finally, Allstate Corp raised its position in Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $606.99 on Friday. The company’s 50 day simple moving average is $576.39 and its 200 day simple moving average is $557.73. Synopsys, Inc. has a 1 year low of $418.51 and a 1 year high of $629.38. The stock has a market capitalization of $93.00 billion, a PE ratio of 65.98, a P/E/G ratio of 3.92 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $1.76 earnings per share. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird raised their target price on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $625.82.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider John F. Runkel, Jr. sold 1,239 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,658,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 36,232 shares of company stock valued at $21,436,741 over the last ninety days. Corporate 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.