Monument Capital Management Buys 20 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Monument Capital Management lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,880 shares of the semiconductor company’s stock after acquiring an additional 20 shares during the period. Monument Capital Management’s holdings in Synopsys were worth $1,074,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys during the 4th quarter worth $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. WD Rutherford LLC bought a new stake in shares of Synopsys during the 1st quarter worth $40,000. Rise Advisors LLC bought a new stake in shares of Synopsys during the 1st quarter worth $46,000. Finally, Quarry LP lifted its holdings in shares of Synopsys by 63.1% during the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 41 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $625.82.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,232 shares of company stock worth $21,436,741. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS stock traded down $0.70 on Wednesday, reaching $608.96. The company’s stock had a trading volume of 205,603 shares, compared to its average volume of 1,085,493. The business has a fifty day simple moving average of $573.27 and a two-hundred day simple moving average of $557.04. The firm has a market cap of $93.30 billion, a PE ratio of 66.21, a PEG ratio of 3.84 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its 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). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

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.