Ifrah Financial Services Inc. Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Ifrah Financial Services Inc. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,266 shares of the semiconductor company’s stock after selling 329 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Synopsys were worth $2,712,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Synopsys during the third quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC lifted its stake in Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in Synopsys during the fourth quarter valued at $56,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNPS shares. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler began coverage on Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average price target of $601.00.

Insiders Place Their Bets

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Synopsys Trading Up 2.6 %

Shares of SNPS stock traded up $13.56 during mid-day trading on Friday, reaching $536.94. The stock had a trading volume of 855,779 shares, compared to its average volume of 964,656. The stock’s 50-day moving average price is $560.86 and its two-hundred day moving average price is $537.32. The firm has a market capitalization of $81.88 billion, a PE ratio of 59.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. On average, equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.