Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,483 shares of the semiconductor company’s stock after purchasing an additional 723 shares during the period. Yousif Capital Management LLC’s holdings in Synopsys were worth $11,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. OFI Invest Asset Management purchased a new position in shares of Synopsys during the third quarter valued at approximately $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC lifted its stake in shares of Synopsys by 34.5% during the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 29 shares during the period. Finally, Keener Financial Planning LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Roy Vallee sold 10,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 20,000 shares in the company, valued at approximately $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. 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 ninety days. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price 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 restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, Robert W. Baird increased their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $601.00.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $0.41 during mid-day trading on Wednesday, reaching $527.91. The company had a trading volume of 1,190,458 shares, compared to its average volume of 1,238,973. The business’s 50-day simple moving average is $565.17 and its 200 day simple moving average is $535.62. The firm has a market cap of $80.51 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 3.01 and a beta of 1.06. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. Synopsys’s revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.78 EPS 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.