Everpar Advisors LLC Acquires New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Everpar Advisors LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,485 shares of the semiconductor company’s stock, valued at approximately $765,000.

Other hedge funds have also made changes to their positions in the company. Gotham Asset Management LLC grew its position in Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the last quarter. abrdn plc boosted its stake in Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares during the period. Simplicity Solutions LLC boosted its stake in Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares during the period. Comerica Bank acquired a new position in Synopsys in the 3rd quarter worth approximately $14,203,000. Finally, DNB Asset Management AS boosted its stake in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after purchasing an additional 8,259 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. 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 price objective for the company. 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 lifted 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. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has an average rating of “Buy” and an average price target of $601.00.

Insider Buying and Selling

In other news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated 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 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. Insiders have sold 26,832 shares of company stock worth $15,464,992 in the last quarter. 0.66% of the stock is currently owned by company insiders.

Synopsys Price Performance

Shares of SNPS stock traded up $4.07 on Tuesday, hitting $549.61. The company’s stock had a trading volume of 759,157 shares, compared to its average volume of 1,201,616. Synopsys, Inc. has a fifty-two week low of $365.46 and a fifty-two week high of $629.38. The firm’s fifty day moving average price is $559.77 and its 200-day moving average price is $539.03. The stock has a market capitalization of $83.82 billion, a price-to-earnings ratio of 60.53, a P/E/G ratio of 3.14 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. Analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal 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.