1,175 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,175 shares of the semiconductor company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SNPS. Coldstream Capital Management Inc. boosted its position in Synopsys by 0.8% during the 4th 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 period. Mission Wealth Management LP raised its holdings in Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 19 shares in the last quarter. Fred Alger Management LLC boosted its stake in Synopsys by 1.8% during 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 in the last quarter. Allstate Corp increased its position in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 21 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp raised its stake in shares of Synopsys by 2.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock worth $394,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on Synopsys

Insider Transactions at Synopsys

In related news, Director Marc N. Casper purchased 750 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, 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. Insiders have sold a total of 22,352 shares of company stock worth $12,996,801 in the last 90 days. 0.66% of the stock is owned by insiders.

Synopsys Trading Up 0.1 %

SNPS stock traded up $0.55 during midday trading on Tuesday, reaching $561.73. The company had a trading volume of 884,657 shares, compared to its average volume of 1,138,623. The company has a 50 day moving average of $556.75 and a two-hundred day moving average of $549.84. Synopsys, Inc. has a 1 year low of $416.87 and a 1 year high of $629.38. The company has a market capitalization of $86.07 billion, a P/E ratio of 61.06, a PEG ratio of 3.62 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Synopsys Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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