Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Ieq Capital LLC

Ieq Capital LLC increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,401 shares of the semiconductor company's stock after buying an additional 3,572 shares during the quarter. Ieq Capital LLC's holdings in Synopsys were worth $13,079,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper purchased 750 shares of the company's stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 value of $711,835.05. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last quarter. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several research 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 report on Monday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird increased 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. Piper Sandler initiated coverage on shares of Synopsys in a report on Thursday, April 4th. They set an "overweight" rating and a $665.00 price target for the company. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $601.00.

Synopsys Trading Up 0.1 %

NASDAQ SNPS traded up $0.68 during trading on Monday, hitting $557.39. 547,936 shares of the company traded hands, compared to its average volume of 1,172,013. Synopsys, Inc. has a 12 month low of $365.67 and a 12 month high of $629.38. The business has a fifty day simple moving average of $558.21 and a 200 day simple moving average of $540.90. The company has a market capitalization of $85.00 billion, a P/E ratio of 61.22, a PEG ratio of 3.25 and a beta of 1.07.

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

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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