Cypress Asset Management Inc. TX Invests $1.16 Million in Synopsys, Inc. (NASDAQ:SNPS)

Cypress Asset Management Inc. TX purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,253 shares of the semiconductor company's stock, valued at approximately $1,160,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Synopsys during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its position in shares of Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 29 shares during the period. Keener Financial Planning LLC bought a new position in shares of Synopsys in the fourth quarter worth approximately $56,000. Altshuler Shaham Ltd boosted its position in shares of Synopsys by 157.1% in the fourth quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 77 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in shares of Synopsys by 52.9% in the third quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company's stock worth $71,000 after purchasing an additional 54 shares during the period. Institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company's stock, valued at approximately $35,726,501.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synopsys news, 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 value of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $13.17 during mid-day trading on Thursday, hitting $586.30. 1,734,541 shares of the company traded hands, compared to its average volume of 1,143,487. The firm has a market cap of $89.41 billion, a P/E ratio of 65.69, a PEG ratio of 3.34 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $390.20 and a 52-week high of $629.38. The firm's 50 day simple moving average is $557.38 and its 200 day simple moving average is $545.99.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. Equities research analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SNPS. Robert W. Baird boosted their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday. Piper Sandler reissued an "overweight" rating and issued a $672.00 target price (up previously from $665.00) on shares of Synopsys in a report on Thursday. StockNews.com raised shares of Synopsys from a "hold" rating to a "buy" rating in a research note on Monday, March 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $616.18.

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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