MeadowBrook Investment Advisors LLC Purchases Shares of 684 Synopsys, Inc. (NASDAQ:SNPS)

MeadowBrook Investment Advisors LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 684 shares of the semiconductor company’s stock, valued at approximately $352,000.

A number of other institutional investors have also added to or reduced their stakes in SNPS. OFI Invest Asset Management purchased a new stake in Synopsys in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Synopsys during the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Synopsys in the third quarter worth about $29,000. Catalyst Capital Advisors LLC grew its position in Synopsys by 34.5% during the 3rd 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 last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at $56,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred 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 directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a document filed 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 that occurred 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 sale, 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. Insiders have sold 26,832 shares of company stock valued at $15,464,992 in the last quarter. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.7 %

Shares of SNPS traded up $9.52 during mid-day trading on Tuesday, reaching $555.06. 300,595 shares of the company’s stock were exchanged, compared to its average volume of 1,195,896. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38. The company has a 50-day simple moving average of $560.26 and a two-hundred day simple moving average of $538.45. The company has a market cap of $84.65 billion, a price-to-earnings ratio of 60.08, a PEG ratio of 3.14 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results 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. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $1.75 EPS. Synopsys’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.