Asset Management One Co. Ltd. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Asset Management One Co. Ltd. raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,793 shares of the semiconductor company's stock after buying an additional 6,933 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Synopsys were worth $36,112,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC grew its position in Synopsys by 1.8% during the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company's stock worth $528,000 after buying an additional 20 shares in the last quarter. Quent Capital LLC grew its position in Synopsys by 1.9% during the third quarter. Quent Capital LLC now owns 1,138 shares of the semiconductor company's stock worth $522,000 after buying an additional 21 shares in the last quarter. UMB Bank n.a. grew its position in Synopsys by 1.3% during the third quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company's stock worth $789,000 after buying an additional 22 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp grew its position in Synopsys by 2.6% during the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company's stock worth $394,000 after buying an additional 22 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Synopsys by 0.7% during the third quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company's stock worth $1,547,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS stock traded up $8.34 during trading on Friday, hitting $575.45. 767,743 shares of the company traded hands, compared to its average volume of 1,286,882. The firm has a market capitalization of $87.78 billion, a PE ratio of 63.38, a P/E/G ratio of 3.29 and a beta of 1.06. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The company has a 50-day moving average of $566.54 and a 200-day moving average of $526.41.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. Sell-side analysts expect that Synopsys, Inc. will post 10.06 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marc N. Casper bought 750 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now owns 1,736 shares of the company's stock, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last 90 days. Insiders own 0.66% of the company's stock.

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.