142 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by DSM Capital Partners LLC

DSM Capital Partners LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 142 shares of the semiconductor company’s stock, valued at approximately $73,000.

Other large investors have also recently added to or reduced their stakes in the company. Gotham Asset Management LLC lifted its position in Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the period. abrdn plc raised its holdings in shares of Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares during the period. Simplicity Solutions LLC raised its holdings in shares of Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares during the period. Comerica Bank purchased a new position in shares of Synopsys in the 3rd quarter worth about $14,203,000. Finally, DNB Asset Management AS raised its holdings in shares of Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after purchasing an additional 8,259 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 0.2 %

NASDAQ SNPS traded up $1.10 during mid-day trading on Friday, reaching $587.40. 725,828 shares of the company’s stock traded hands, compared to its average volume of 755,899. Synopsys, Inc. has a 1-year low of $409.83 and a 1-year high of $629.38. The company has a fifty day simple moving average of $558.67 and a 200-day simple moving average of $547.28. The company has a market cap of $89.58 billion, a price-to-earnings ratio of 63.85, a P/E/G ratio of 3.43 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $1.76 EPS. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Marc N. Casper acquired 750 shares of the stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marc N. Casper bought 750 shares of Synopsys stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.