4,082 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,082 shares of the semiconductor company's stock, valued at approximately $2,064,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Capital World Investors grew its holdings in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC grew its holdings in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after acquiring an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 9.6%

Shares of NASDAQ:SNPS traded down $49.36 during trading on Wednesday, hitting $462.43. 4,790,448 shares of the stock traded hands, compared to its average volume of 1,121,537. The company has a market cap of $71.50 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 3.23 and a beta of 1.16. The company has a fifty day moving average price of $453.18 and a two-hundred day moving average price of $487.60. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share. On average, equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $614.86.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

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.