Sequoia Financial Advisors LLC Buys 4,257 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sequoia Financial Advisors LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 281.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,768 shares of the semiconductor company's stock after purchasing an additional 4,257 shares during the period. Sequoia Financial Advisors LLC's holdings in Synopsys were worth $2,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the third quarter valued at about $26,000. Freedom Wealth Alliance LLC purchased a new stake in Synopsys during the fourth quarter worth about $26,000. Venturi Wealth Management LLC purchased a new stake in Synopsys during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Synopsys during the third quarter worth about $29,000. Finally, VitalStone Financial LLC purchased a new stake in Synopsys during the first quarter worth about $30,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SNPS shares. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an "overweight" rating and a $665.00 target price for the company. StockNews.com upgraded shares of Synopsys from a "hold" rating to a "buy" rating in a research note on Monday, March 18th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has a consensus rating of "Buy" and a consensus price target of $601.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company's stock, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $4.81 during mid-day trading on Friday, hitting $557.16. The stock had a trading volume of 810,639 shares, compared to its average volume of 1,254,703. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The business has a 50 day moving average price of $569.73 and a two-hundred day moving average price of $530.43. The firm has a market cap of $84.97 billion, a P/E ratio of 61.36, a price-to-earnings-growth ratio of 3.28 and a beta of 1.06.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $1.75 earnings per share. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 9.78 EPS 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.