Gallacher Capital Management LLC Invests $201,000 in Synopsys, Inc. (NASDAQ:SNPS)

Gallacher Capital Management LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, Holdings Channel reports. The fund bought 351 shares of the semiconductor company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Synopsys during the 4th quarter worth approximately $1,272,143,000. Global Assets Advisory LLC purchased a new stake in Synopsys during the first quarter worth approximately $282,876,000. Wellington Management Group LLP raised its stake in shares of Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after acquiring an additional 269,130 shares during the period. Van ECK Associates Corp raised its stake in shares of Synopsys by 25.0% in the 1st quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after acquiring an additional 232,731 shares during the period. Finally, Vanguard Group Inc. boosted its position in Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after purchasing an additional 203,601 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.5 %

SNPS stock traded up $3.29 during trading on Friday, hitting $612.03. 113,835 shares of the company’s stock traded hands, compared to its average volume of 1,063,660. The stock has a fifty day moving average price of $584.56 and a two-hundred day moving average price of $559.95. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The stock has a market capitalization of $93.78 billion, a price-to-earnings ratio of 66.59, a price-to-earnings-growth ratio of 4.00 and a beta of 1.07.

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 the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $1.76 EPS. Synopsys’s revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler lifted their price target on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $627.18.

Insider Activity at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.90, for a total value of $722,213.10. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,658,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Runkel, Jr. sold 1,239 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,658,000. The disclosure for this sale can be found here. Insiders sold 72,222 shares of company stock worth $43,691,039 in the last 90 days. 0.66% of the stock is currently owned by company insiders.

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.