Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 281,206 shares of the semiconductor company’s stock after purchasing an additional 13,541 shares during the period. Synopsys accounts for 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 28th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Synopsys were worth $144,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. OFI Invest Asset Management purchased a new stake in Synopsys in the 3rd quarter valued at about $26,000. Freedom Wealth Alliance LLC purchased a new stake in Synopsys in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $29,000. Finally, VitalStone Financial LLC bought a new position in shares of Synopsys during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Piper Sandler began coverage on shares of Synopsys in a report 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 report on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Finally, Robert W. Baird raised their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

Synopsys stock traded down $2.82 during mid-day trading on Tuesday, hitting $541.09. The company’s stock had a trading volume of 895,824 shares, compared to its average volume of 1,245,503. The stock has a market cap of $82.52 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. The business has a 50 day moving average price of $569.53 and a 200-day moving average price of $532.98. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. Synopsys’s revenue was up 21.1% on a year-over-year basis. On average, equities research analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Synopsys news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 over the last three months. 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.