Fulton Breakefield Broenniman LLC Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Fulton Breakefield Broenniman LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 845 shares of the semiconductor company’s stock after selling 206 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Synopsys were worth $435,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNPS. Headlands Technologies LLC grew its holdings in shares of Synopsys by 300.6% during the fourth quarter. Headlands Technologies LLC now owns 7,135 shares of the semiconductor company’s stock worth $3,674,000 after purchasing an additional 5,354 shares during the last quarter. Kovack Advisors Inc. grew its holdings in shares of Synopsys by 17.8% during the fourth quarter. Kovack Advisors Inc. now owns 1,024 shares of the semiconductor company’s stock worth $527,000 after purchasing an additional 155 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Synopsys by 5.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 4,598 shares of the semiconductor company’s stock worth $2,368,000 after purchasing an additional 239 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in shares of Synopsys during the fourth quarter worth about $1,161,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Synopsys during the fourth quarter worth about $2,450,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS stock traded up $13.55 during midday trading on Friday, hitting $543.66. The stock had a trading volume of 997,562 shares, compared to its average volume of 908,153. The firm has a market cap of $82.91 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The company’s 50-day moving average price is $563.73 and its 200 day moving average price is $535.97.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The disclosure for this sale can be found here. In the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.