Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 929,376 shares of the semiconductor company's stock after purchasing an additional 190,330 shares during the period. Synopsys accounts for approximately 0.9% of Van ECK Associates Corp's holdings, making the stock its 25th biggest position. Van ECK Associates Corp owned approximately 0.61% of Synopsys worth $478,545,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Synopsys in the 3rd quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in shares of Synopsys during the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys during the third quarter valued at about $29,000. Keener Financial Planning LLC acquired a new stake in Synopsys in the fourth quarter worth about $56,000. Finally, Catalyst Capital Advisors LLC grew its position in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company's stock valued at $52,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 over the last quarter. Company insiders own 0.66% of the company's stock.

Synopsys Price Performance

NASDAQ SNPS traded up $1.10 on Monday, hitting $544.76. 647,477 shares of the company were exchanged, compared to its average volume of 1,230,210. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The firm has a market capitalization of $83.08 billion, a P/E ratio of 59.84, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. The company's 50 day moving average price is $563.73 and its 200-day moving average price is $536.58.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The firm's revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current 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.

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