Bank Julius Baer & Co. Ltd Zurich Sells 7,837 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 36,935 shares of the semiconductor company's stock after selling 7,837 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Synopsys were worth $19,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Synopsys during the 3rd quarter valued at $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys in the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC raised its position in shares of Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 29 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Synopsys during the 4th quarter worth $56,000. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

NASDAQ SNPS traded up $13.55 during trading hours on Friday, reaching $543.66. The company's stock had a trading volume of 997,369 shares, compared to its average volume of 1,237,400. The firm has a market capitalization of $82.91 billion, a price-to-earnings ratio of 60.20, a P/E/G ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 1-year low of $362.06 and a 1-year high of $629.38. The company's 50-day moving average is $563.91 and its two-hundred day moving average is $535.52.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations 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 firm posted $1.75 EPS. Equities analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Roy Vallee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at $11,453,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Roy Vallee sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 20,000 shares of the company's stock, valued at $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 over the last quarter. 0.66% of the stock is currently owned by insiders.

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.

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