Riverview Trust Co Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Riverview Trust Co grew its position in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531 shares of the semiconductor company’s stock after buying an additional 111 shares during the period. Riverview Trust Co’s holdings in Synopsys were worth $177,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Curi Wealth Management LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $26,000. Confluence Wealth Services Inc. purchased a new position in shares of Synopsys during the 4th quarter worth approximately $31,000. CVA Family Office LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $35,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Synopsys during the 4th quarter worth approximately $36,000. Finally, Amplius Wealth Advisors LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $40,000. 84.71% of the stock is owned by institutional investors and hedge funds.

Shares of SNPS opened at $303.70 on Friday. Synopsys, Inc. has a twelve month low of $255.02 and a twelve month high of $377.60. The firm’s fifty day simple moving average is $298.41 and its 200-day simple moving average is $312.31. The firm has a market capitalization of $46.46 billion, a price-to-earnings ratio of 47.23, a PEG ratio of 2.73 and a beta of 1.20.

Synopsys (NASDAQ:SNPSGet Rating) last announced its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.09. Synopsys had a net margin of 21.19% and a return on equity of 18.23%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business earned $1.24 EPS. Equities research analysts expect that Synopsys, Inc. will post 5.95 EPS for the current year.

SNPS has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Synopsys from $415.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. UBS Group lowered their price objective on shares of Synopsys to $360.00 and set a “hold” rating for the company in a research report on Thursday, May 19th. StockNews.com cut shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 3rd. Atlantic Securities decreased their price target on shares of Synopsys to $350.00 and set a “na” rating for the company in a research report on Thursday, May 19th. Finally, Bank of America raised shares of Synopsys from an “underperform” rating to a “neutral” rating and raised their price target for the company from $325.00 to $360.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.91.

In other Synopsys news, CRO Joseph W. Logan sold 53,706 shares of Synopsys stock in a transaction on Friday, May 20th. The shares were sold at an average price of $299.12, for a total value of $16,064,538.72. Following the transaction, the executive now directly owns 99,907 shares in the company, valued at $29,884,181.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 3,463 shares of Synopsys stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $330.00, for a total transaction of $1,142,790.00. Following the completion of the transaction, the insider now owns 22,623 shares in the company, valued at $7,465,590. The disclosure for this sale can be found here. Insiders have sold a total of 124,634 shares of company stock worth $37,821,492 over the last quarter. 1.20% of the stock is owned by company insiders.

Synopsys Profile (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

Further Reading

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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