Lido Advisors LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,814 shares of the semiconductor company’s stock, valued at approximately $324,000.
Other hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC grew its stake in Synopsys by 78.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Tompkins Financial Corp grew its position in shares of Synopsys by 63.7% during the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 109 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of Synopsys during the fourth quarter worth approximately $29,000. Executive Wealth Management LLC purchased a new position in Synopsys during the 4th quarter worth $29,000. Finally, Hanseatic Management Services Inc. purchased a new position in Synopsys during the 1st quarter worth $30,000. 91.80% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target (up previously from $115.00) on shares of Synopsys in a report on Thursday, March 28th. KeyCorp started coverage on Synopsys in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 target price on the stock. Wells Fargo & Co began coverage on Synopsys in a report on Tuesday, May 14th. They issued an “outperform” rating and a $135.00 price objective on the stock. Royal Bank of Canada lifted their price target on Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research note on Thursday, April 11th. Finally, BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $124.00.
In other news, Director Roy Vallee sold 15,596 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $128.95, for a total value of $2,011,104.20. Following the transaction, the director now directly owns 52,641 shares in the company, valued at approximately $6,788,056.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $121.88, for a total transaction of $381,850.04. Following the completion of the transaction, the vice president now owns 8,416 shares in the company, valued at approximately $1,025,742.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,727 shares of company stock worth $25,519,256. 1.84% of the stock is currently owned by insiders.
SNPS stock traded down $0.66 on Wednesday, reaching $123.98. The company had a trading volume of 1,298,579 shares, compared to its average volume of 1,150,471. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $18.68 billion, a P/E ratio of 43.96, a P/E/G ratio of 3.84 and a beta of 1.26. The firm’s fifty day moving average price is $121.41. Synopsys, Inc. has a 1 year low of $79.14 and a 1 year high of $130.64.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The company had revenue of $836.20 million for the quarter, compared to analyst estimates of $829.41 million. During the same quarter in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Synopsys, Inc. will post 3.03 EPS for the current year.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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