Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Davis Rea LTD.

Davis Rea LTD. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,096 shares of the semiconductor company's stock after buying an additional 5,179 shares during the quarter. Synopsys accounts for about 4.2% of Davis Rea LTD.'s investment portfolio, making the stock its 9th largest position. Davis Rea LTD.'s holdings in Synopsys were worth $8,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Synopsys during the 4th quarter valued at about $891,507,000. Alliancebernstein L.P. boosted its holdings in shares of Synopsys by 351.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company's stock worth $566,170,000 after purchasing an additional 1,380,699 shares during the period. Moneta Group Investment Advisors LLC grew its position in Synopsys by 113,493.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company's stock valued at $421,450,000 after purchasing an additional 1,318,798 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Synopsys by 90.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company's stock valued at $244,353,000 after buying an additional 347,807 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company's stock worth $925,744,000 after buying an additional 344,430 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business'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 sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Synopsys Price Performance

SNPS traded up $8.34 on Friday, hitting $575.45. The company had a trading volume of 767,743 shares, compared to its average volume of 956,349. The company's fifty day moving average price is $567.49 and its 200 day moving average price is $528.20. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38. The stock has a market cap of $87.76 billion, a price-to-earnings ratio of 63.38, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company earned $1.75 EPS. The company's revenue for the quarter was up 21.1% on a year-over-year basis. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.06 EPS for the current year.

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.