Morningstar Investment Services LLC Invests $260,000 in Synopsys, Inc. (NASDAQ:SNPS)

Morningstar Investment Services LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 502 shares of the semiconductor company’s stock, valued at approximately $260,000.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Synopsys in the fourth quarter valued at about $1,272,143,000. Ameriprise Financial Inc. raised its position in shares of Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after buying an additional 344,430 shares in the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 330,206 shares during the period. Wellington Management Group LLP boosted 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 acquiring an additional 269,130 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Synopsys by 25.8% in the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock valued at $478,545,000 after acquiring an additional 190,330 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on 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 SEC, which is available at the SEC website. Also, Director Marc N. Casper bought 750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the purchase, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders sold a total of 22,352 shares of company stock valued at $12,996,801 in the last three months. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $571.45 on Friday. The company has a 50 day simple moving average of $557.09 and a 200 day simple moving average of $550.55. Synopsys, Inc. has a 1 year low of $416.87 and a 1 year high of $629.38. The firm has a market cap of $87.56 billion, a PE ratio of 62.11, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. As a group, research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. Robert W. Baird upped their target price on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $616.18.

Get Our Latest Analysis on Synopsys

About Synopsys

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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