Howland Capital Management LLC Purchases 11,461 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Howland Capital Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 68.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,286 shares of the semiconductor company’s stock after acquiring an additional 11,461 shares during the quarter. Howland Capital Management LLC’s holdings in Synopsys were worth $16,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Vanguard Group Inc. raised its position in shares of Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares during the period. Capital World Investors increased its position in Synopsys by 0.5% during the fourth quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock worth $3,373,384,000 after acquiring an additional 32,430 shares during the period. Massachusetts Financial Services Co. MA increased its position in Synopsys by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after acquiring an additional 153,053 shares during the period. Norges Bank bought a new position in Synopsys during the fourth quarter worth about $1,272,143,000. Finally, Van ECK Associates Corp increased its position in Synopsys by 25.0% during the first quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock worth $664,145,000 after acquiring an additional 232,731 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $10.82 during trading on Thursday, hitting $608.74. The stock had a trading volume of 552,877 shares, compared to its average volume of 1,070,910. The company has a market capitalization of $93.27 billion, a PE ratio of 66.73, a PEG ratio of 3.97 and a beta of 1.07. The firm has a fifty day moving average of $582.85 and a two-hundred day moving average of $559.61. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results 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). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS. On average, equities analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 27,753 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The disclosure for this sale can be found here. Insiders have sold a total of 72,222 shares of company stock valued at $43,691,039 over the last three months. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler raised their price target on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock 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. Finally, KeyCorp increased their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average price target of $627.18.

Synopsys 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.