Gitterman Wealth Management LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Gitterman Wealth Management LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 537 shares of the semiconductor company’s stock, valued at approximately $277,000.

Several other institutional investors have also modified their holdings of SNPS. Ameriprise Financial Inc. grew its stake in shares of Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares in the last quarter. FMR LLC lifted its position 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 purchasing an additional 330,206 shares during the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 269,130 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Synopsys by 52,466.9% during the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after purchasing an additional 175,764 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Synopsys by 140.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock worth $122,850,000 after purchasing an additional 156,404 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 2.6 %

SNPS traded up $13.55 on Friday, reaching $543.66. The company had a trading volume of 997,562 shares, compared to its average volume of 908,153. Synopsys, Inc. has a 1 year low of $362.06 and a 1 year high of $629.38. The stock has a market capitalization of $82.91 billion, a PE ratio of 59.87, a P/E/G ratio of 3.18 and a beta of 1.06. The stock has a 50-day moving average price of $563.73 and a 200-day moving average price of $536.29.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.