WD Rutherford LLC Sells 50 Shares of Synopsys, Inc. (NASDAQ:SNPS)

WD Rutherford LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,695 shares of the semiconductor company’s stock after selling 50 shares during the quarter. WD Rutherford LLC’s holdings in Synopsys were worth $721,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $583,608,000. GAMMA Investing LLC increased its stake in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after acquiring an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Capital Research Global Investors acquired a new position in Synopsys in the 4th quarter valued at $239,864,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Synopsys during the 4th quarter valued at $199,065,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer now owns 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Stock Up 0.1%

Shares of SNPS stock opened at $479.41 on Tuesday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock’s fifty day simple moving average is $468.27 and its 200 day simple moving average is $480.35. The firm has a market capitalization of $74.39 billion, a P/E ratio of 33.02, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm posted $3.00 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Bank of America dropped their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. KeyCorp set a $540.00 price target on shares of Synopsys in a research report on Tuesday, June 3rd. Finally, Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $607.14.

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.