McGlone Suttner Wealth Management Inc. Purchases 83 Shares of Synopsys, Inc. (NASDAQ:SNPS)

McGlone Suttner Wealth Management Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 11.2% during the fourth quarter, HoldingsChannel reports. The firm owned 826 shares of the semiconductor company’s stock after buying an additional 83 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Synopsys were worth $425,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Synopsys during the third quarter worth $26,000. Freedom Wealth Alliance LLC bought a new position in shares of Synopsys in the fourth quarter valued at $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys in the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the third quarter valued at $29,000. Finally, VitalStone Financial LLC bought a new position in shares of Synopsys in the first quarter valued at $30,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

NASDAQ SNPS traded down $1.85 on Thursday, hitting $571.50. 998,608 shares of the stock were exchanged, compared to its average volume of 1,329,009. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38. The firm has a market capitalization of $87.18 billion, a P/E ratio of 62.94, a P/E/G ratio of 3.32 and a beta of 1.07. The stock has a fifty day moving average price of $561.42 and a two-hundred day moving average price of $522.15.

Synopsys (NASDAQ:SNPS) last announced 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. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird increased their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Wells Fargo & Company lifted their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus price target of $594.60.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,065 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total value of $4,484,455.50. Following the completion of the sale, the executive now directly owns 1,617 shares in the company, valued at approximately $799,929.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Marc N. Casper bought 750 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was bought 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 approximately $1,016,341.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,065 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total value of $4,484,455.50. Following the transaction, the executive now owns 1,617 shares of the company’s stock, valued at $799,929.90. The disclosure for this sale can be found here. Insiders sold a total of 36,586 shares of company stock valued at $19,868,728 in the last three months. 0.66% of the stock is currently owned by company insiders.

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.