Hartline Investment Corp Takes $241,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Hartline Investment Corp purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 422 shares of the semiconductor company’s stock, valued at approximately $241,000.

Other hedge funds also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC bought a new stake in shares of Synopsys during the first quarter valued at approximately $26,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its stake in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Activest Wealth Management acquired a new position in shares of Synopsys during the first quarter valued at approximately $35,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective 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. Robert W. Baird raised their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp raised their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler restated an “overweight” rating and issued a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus price target of $625.82.

Check Out Our Latest Research Report on Synopsys

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 1,239 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.90, for a total value of $722,213.10. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,658,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, insider Geus Aart De sold 2,789 shares of Synopsys stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $610.94, for a total transaction of $1,703,911.66. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $65,360,194.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Runkel, Jr. sold 1,239 shares of Synopsys 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 sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,658,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,021 shares of company stock valued at $23,140,653. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Synopsys stock traded up $14.31 during midday trading on Friday, reaching $621.30. The stock had a trading volume of 945,911 shares, compared to its average volume of 1,086,635. The firm’s fifty day simple moving average is $576.39 and its two-hundred day simple moving average is $557.73. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a market cap of $95.20 billion, a price-to-earnings ratio of 67.00, a PEG ratio of 3.92 and a beta of 1.07.

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

Synopsys Profile

(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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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