Vise Technologies Inc. Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Vise Technologies Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 57.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,068 shares of the semiconductor company's stock after acquiring an additional 754 shares during the quarter. Vise Technologies Inc.'s holdings in Synopsys were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter valued at about $583,608,000. Price T Rowe Associates Inc. MD increased its holdings in Synopsys by 21.5% during the fourth 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 buying an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new stake in Synopsys in the 4th quarter valued at $239,864,000. Raymond James Financial Inc. bought a new stake in Synopsys in the 4th quarter valued at $199,065,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 purchasing an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Mizuho dropped their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $614.86.

Insiders Place Their Bets

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

Synopsys Trading Down 9.6%

Shares of SNPS stock traded down $49.36 during trading on Wednesday, reaching $462.43. 4,790,448 shares of the company's stock traded hands, compared to its average volume of 1,121,537. The firm's 50-day moving average is $453.18 and its 200 day moving average is $487.60. The company has a market capitalization of $71.50 billion, a P/E ratio of 31.85, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) 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 company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 earnings per share. As a group, sell-side analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.