Norden Group LLC Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Norden Group LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 456 shares of the semiconductor company’s stock, valued at approximately $235,000.

Several other large investors have also bought and sold shares of SNPS. Ameriprise Financial Inc. increased its position in Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after buying an additional 344,430 shares in the last quarter. FMR LLC raised its position in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after purchasing an additional 330,206 shares during the last quarter. Wellington Management Group LLP boosted its stake in Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock worth $177,517,000 after purchasing an additional 269,130 shares in the last quarter. Van ECK Associates Corp boosted its stake in Synopsys by 25.8% in the 4th quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after purchasing an additional 190,330 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Synopsys by 52,466.9% during the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after purchasing an additional 175,764 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $522.18 on Thursday. The firm has a market capitalization of $79.63 billion, a P/E ratio of 57.51, a P/E/G ratio of 3.10 and a beta of 1.07. The business’s 50-day moving average is $562.79 and its 200 day moving average is $537.10. Synopsys, Inc. has a 1 year low of $365.46 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data 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. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 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 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 earnings per share. On average, analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated 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 sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated 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 owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction 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 $35,726,501.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

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

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.