Mather Group LLC. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Mather Group LLC. raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,155 shares of the semiconductor company’s stock after purchasing an additional 22 shares during the period. Mather Group LLC.’s holdings in Synopsys were worth $1,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after acquiring an additional 330,206 shares during the period. Ameriprise Financial Inc. raised its holdings in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after buying an additional 344,430 shares during the period. Northern Trust Corp raised its holdings in Synopsys by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after buying an additional 78,848 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Synopsys by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after buying an additional 36,470 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Synopsys by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 826,010 shares of the semiconductor company’s stock valued at $379,114,000 after buying an additional 7,294 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $544.76 on Tuesday. Synopsys, Inc. has a 12 month low of $365.46 and a 12 month high of $629.38. The business has a 50 day simple moving average of $563.56 and a 200-day simple moving average of $536.92. The stock has a market capitalization of $83.08 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm 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 company posted $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Piper Sandler assumed coverage on Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. Robert W. Baird lifted their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus target price of $601.00.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s 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 sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly 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 valued at $15,464,992 over the last quarter. Company insiders own 0.66% of the company’s stock.

Synopsys Company 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.