Mackenzie Financial Corp Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Mackenzie Financial Corp raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,814 shares of the semiconductor company's stock after buying an additional 9,223 shares during the quarter. Mackenzie Financial Corp's holdings in Synopsys were worth $25,148,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNPS. Vanguard Group Inc. grew its stake in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after buying an additional 120,575 shares in the last quarter. Capital World Investors boosted 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 valued at $3,533,526,000 after acquiring an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD boosted 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 valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after acquiring an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Trading Up 0.1%

SNPS stock traded up $0.32 during trading on Friday, hitting $455.31. 1,033,069 shares of the company's stock were exchanged, compared to its average volume of 1,134,579. The business has a 50-day moving average price of $453.40 and a two-hundred day moving average price of $486.73. The stock has a market capitalization of $70.40 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 3.23 and a beta of 1.16. 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 released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNPS. Bank of America lowered their price objective 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. Rosenblatt Securities reduced their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. KeyCorp set a $575.00 price objective on Synopsys and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $609.64.

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.