Synopsys, Inc. (NASDAQ:SNPS) Stake Increased by Congress Asset Management Co. MA

Congress Asset Management Co. MA raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,480 shares of the semiconductor company’s stock after acquiring an additional 1,282 shares during the quarter. Synopsys makes up 1.1% of Congress Asset Management Co. MA’s portfolio, making the stock its 16th biggest position. Congress Asset Management Co. MA owned 0.18% of Synopsys worth $142,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter worth about $28,000. Jones Financial Companies Lllp raised its stake in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. Quarry LP lifted its holdings in Synopsys by 63.1% during the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after buying an additional 41 shares during the last quarter. Keener Financial Planning LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $56,000. Finally, Altshuler Shaham Ltd increased its holdings in shares of Synopsys by 157.1% in the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 77 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys 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 directly 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 hyperlink. In other Synopsys news, Director Marc N. Casper acquired 750 shares of Synopsys stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the purchase, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,288 shares of company stock worth $13,527,485. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $672.00 target price (up previously from $665.00) on shares of Synopsys in a 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. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird increased their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $616.18.

Get Our Latest Stock Analysis on Synopsys

Synopsys Stock Up 0.6 %

Synopsys stock traded up $3.67 during mid-day trading on Friday, hitting $590.21. The company’s stock had a trading volume of 600,800 shares, compared to its average volume of 851,994. The stock has a market capitalization of $90.43 billion, a P/E ratio of 64.15, a P/E/G ratio of 3.78 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $416.87 and a twelve month high of $629.38. The stock’s fifty day moving average price is $558.20 and its two-hundred day moving average price is $552.03.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company 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 firm earned $1.76 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Equities analysts expect 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.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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