Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by SageView Advisory Group LLC

SageView Advisory Group LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,137 shares of the semiconductor company’s stock after purchasing an additional 397 shares during the period. SageView Advisory Group LLC’s holdings in Synopsys were worth $2,790,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after acquiring an additional 18 shares during the last quarter. Mission Wealth Management LP raised its position in Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares during the last quarter. Fred Alger Management LLC raised its position in Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 20 shares during the last quarter. Allstate Corp increased its stake in Synopsys by 4.7% in the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 21 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp increased its stake in Synopsys by 2.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNPS shares. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus price target of $616.18.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $3.03 during trading hours on Friday, hitting $589.33. 419,121 shares of the company’s stock traded hands, compared to its average volume of 1,136,168. Synopsys, Inc. has a 52 week low of $409.83 and a 52 week high of $629.38. The company’s fifty day simple moving average is $557.92 and its two-hundred day simple moving average is $546.27. The company has a market cap of $89.87 billion, a price-to-earnings ratio of 63.93, a price-to-earnings-growth ratio of 3.35 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 23.47% and a net margin of 23.05%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Transactions at Synopsys

In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The disclosure for this purchase can be found here. 0.66% of the stock is owned by insiders.

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.