Evermay Wealth Management LLC Buys 473 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Evermay Wealth Management LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 47.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471 shares of the semiconductor company’s stock after buying an additional 473 shares during the quarter. Evermay Wealth Management LLC’s holdings in Synopsys were worth $757,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SNPS. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the 3rd quarter worth $29,000. Keener Financial Planning LLC bought a new position in Synopsys in the fourth quarter worth about $56,000. Catalyst Capital Advisors LLC lifted its position in shares of Synopsys by 34.5% during the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 29 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Synopsys by 157.1% in the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 77 shares in the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $73,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday. Robert W. Baird boosted their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $616.18.

Synopsys Stock Performance

Shares of Synopsys stock traded up $1.10 during trading on Friday, hitting $587.40. 725,828 shares of the company’s stock were exchanged, compared to its average volume of 755,899. The stock has a market capitalization of $89.58 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 3.43 and a beta of 1.07. The business has a 50-day simple moving average of $558.67 and a 200-day simple moving average of $547.57. Synopsys, Inc. has a 52-week low of $409.83 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the 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 completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

About Synopsys

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.