Teamwork Financial Advisors LLC Takes $215,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Teamwork Financial Advisors LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 418 shares of the semiconductor company’s stock, valued at approximately $215,000.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Synopsys during the 3rd quarter valued at $26,000. Freedom Wealth Alliance LLC purchased a new stake in Synopsys during the 4th quarter worth $26,000. Venturi Wealth Management LLC purchased a new stake in Synopsys during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Synopsys during the 3rd quarter worth $29,000. Finally, VitalStone Financial LLC bought a new stake in shares of Synopsys in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Roy Vallee sold 10,000 shares of the business’s 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 sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold 36,586 shares of company stock worth $19,868,728 in the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $1.85 during trading on Friday, reaching $571.50. The company had a trading volume of 999,108 shares, compared to its average volume of 1,028,943. The firm’s fifty day moving average is $562.96 and its 200 day moving average is $522.50. The firm has a market capitalization of $87.18 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 3.26 and a beta of 1.07. Synopsys, Inc. has a twelve month low of $360.36 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping 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 business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts predict that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNPS has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, 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. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average price target of $594.60.

Synopsys 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.