Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,206 shares of the semiconductor company's stock after purchasing an additional 13,541 shares during the quarter. Synopsys accounts for approximately 0.6% of Zurcher Kantonalbank Zurich Cantonalbank's investment portfolio, making the stock its 28th largest holding. Zurcher Kantonalbank Zurich Cantonalbank owned 0.19% of Synopsys worth $144,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fred Alger Management LLC raised 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 valued at $528,000 after acquiring an additional 20 shares in the last quarter. UMB Bank n.a. raised 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 valued at $789,000 after acquiring an additional 22 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp increased its position in shares of Synopsys by 2.6% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company's stock valued at $394,000 after buying an additional 22 shares in the last quarter. Synovus Financial Corp increased its position in shares of Synopsys by 0.7% in the third quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company's stock valued at $1,547,000 after buying an additional 23 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Synopsys by 23.1% in the second quarter. State of Wyoming now owns 128 shares of the semiconductor company's stock valued at $56,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 0.5 %

NASDAQ SNPS traded down $2.82 on Tuesday, reaching $541.09. 897,141 shares of the company were exchanged, compared to its average volume of 1,245,520. The business's fifty day moving average price is $569.50 and its 200 day moving average price is $533.56. The stock has a market capitalization of $82.52 billion, a P/E ratio of 59.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for 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%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now owns 26,780 shares of the company's stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now owns 26,780 shares of the company's stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company's stock in a transaction on Wednesday, April 3rd. The shares were 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 in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company's stock.

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.