National Bank of Canada FI Has $71.35 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

National Bank of Canada FI raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 159.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 143,003 shares of the semiconductor company's stock after purchasing an additional 87,840 shares during the period. National Bank of Canada FI owned about 0.09% of Synopsys worth $71,354,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Synopsys in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Synopsys during the third quarter worth approximately $29,000. Catalyst Capital Advisors LLC grew its stake in 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 during the period. Finally, Keener Financial Planning LLC purchased a new position in shares of Synopsys during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

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

Synopsys Stock Performance

Shares of SNPS stock traded up $13.56 during trading hours on Friday, hitting $536.94. 855,779 shares of the company were exchanged, compared to its average volume of 964,656. The stock has a market capitalization of $81.88 billion, a price-to-earnings ratio of 59.13, a P/E/G ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The business's 50-day simple moving average is $560.86 and its two-hundred day simple moving average is $538.00.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $1.75 EPS. The business's revenue was up 21.1% compared to the same quarter last year. As a group, analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the transaction, the insider now owns 26,780 shares of the company's stock, valued at $15,638,181. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the firm's stock in a transaction on 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 directly owns 26,780 shares of the company's stock, valued at $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the 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 owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. In 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.

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.