American International Group Inc. Buys 584 Shares of Synopsys, Inc. (NASDAQ:SNPS)

American International Group Inc. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 59,300 shares of the semiconductor company’s stock after purchasing an additional 584 shares during the quarter. American International Group Inc.’s holdings in Synopsys were worth $30,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys during the 4th quarter valued at approximately $28,000. EP Wealth Advisors LLC grew its stake in Synopsys by 2.7% in the fourth quarter. EP Wealth Advisors LLC now owns 1,190 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 31 shares during the period. Syon Capital LLC lifted its position in Synopsys by 30.8% during the 4th quarter. Syon Capital LLC now owns 1,453 shares of the semiconductor company’s stock valued at $748,000 after acquiring an additional 342 shares during the period. Virtu Financial LLC purchased a new stake in Synopsys in the fourth quarter worth about $9,581,000. Finally, Cim LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $21,047,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird lifted their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of “Buy” and an average price target of $616.18.

Synopsys Stock Up 0.6 %

SNPS traded up $3.67 during mid-day trading on Friday, reaching $590.21. 600,800 shares of the company traded hands, compared to its average volume of 851,994. The company’s fifty day moving average price is $558.20 and its 200-day moving average price is $552.03. The stock has a market capitalization of $90.43 billion, a P/E ratio of 64.15, a P/E/G ratio of 3.81 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $416.87 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders sold 23,288 shares of company stock valued at $13,527,485 in the last quarter. 0.66% of the stock is currently owned by insiders.

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.