SVB Wealth LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

SVB Wealth LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,388 shares of the semiconductor company’s stock after buying an additional 144 shares during the period. SVB Wealth LLC’s holdings in Synopsys were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC boosted 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 buying an additional 20 shares during the last quarter. UMB Bank n.a. boosted its position in Synopsys by 1.3% in the 3rd quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock valued at $789,000 after buying an additional 22 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its position 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 last quarter. Synovus Financial Corp boosted its position in Synopsys by 0.7% in the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after buying an additional 23 shares during the last quarter. Finally, State of Wyoming boosted its position in Synopsys by 23.1% in the 2nd quarter. State of Wyoming now owns 128 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys 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 transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $510.71 on Friday. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The firm has a market capitalization of $77.88 billion, a PE ratio of 56.25, a P/E/G ratio of 3.04 and a beta of 1.06. The company’s 50 day simple moving average is $566.66 and its 200 day simple moving average is $533.75.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS 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 business 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 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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