Dohj LLC Invests $338,000 in Synopsys, Inc. (NASDAQ:SNPS)

Dohj LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 656 shares of the semiconductor company’s stock, valued at approximately $338,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. Ameriprise Financial Inc. raised its position in shares of Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares during the period. FMR LLC increased its stake in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Wellington Management Group LLP raised its holdings in Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock worth $177,517,000 after purchasing an additional 269,130 shares during the period. International Assets Investment Management LLC raised its holdings in Synopsys by 52,466.9% in the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after purchasing an additional 175,764 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Synopsys by 140.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock worth $122,850,000 after purchasing an additional 156,404 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird boosted their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average price target of $601.00.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the purchase, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 2.6 %

NASDAQ SNPS traded up $13.55 on Friday, reaching $543.66. 997,562 shares of the company were exchanged, compared to its average volume of 908,153. Synopsys, Inc. has a fifty-two week low of $362.06 and a fifty-two week high of $629.38. The stock has a market capitalization of $82.91 billion, a P/E ratio of 59.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. The business’s fifty day moving average price is $563.73 and its 200 day moving average price is $535.97.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.