Xponance Inc. Purchases 214 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Xponance Inc. boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,718 shares of the semiconductor company’s stock after purchasing an additional 214 shares during the quarter. Xponance Inc.’s holdings in Synopsys were worth $20,451,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SNPS. Cibc World Market Inc. raised its holdings in Synopsys by 58.8% in the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock worth $3,964,000 after purchasing an additional 4,402 shares in the last quarter. Prudential PLC purchased a new stake in shares of Synopsys during the first quarter worth about $993,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Synopsys during the first quarter worth about $240,000. Covestor Ltd grew its stake in shares of Synopsys by 18.9% during the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 43 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Synopsys by 64.4% during the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock worth $560,000 after acquiring an additional 658 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 1.5 %

Synopsys stock traded down $7.87 during mid-day trading on Thursday, hitting $519.71. The company had a trading volume of 1,176,914 shares, compared to its average volume of 1,242,940. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The company’s fifty day moving average is $568.97 and its 200-day moving average is $533.52. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. Corporate insiders own 0.66% of the company’s stock.

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.