Silver Oak Securities Incorporated Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Silver Oak Securities Incorporated grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1,812.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,626 shares of the semiconductor company’s stock after purchasing an additional 1,541 shares during the period. Silver Oak Securities Incorporated’s holdings in Synopsys were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Synopsys in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Synopsys during the third quarter worth $29,000. Catalyst Capital Advisors LLC lifted its holdings in 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 purchasing an additional 29 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $544.76 on Tuesday. The company’s 50-day moving average is $563.56 and its two-hundred day moving average is $536.92. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The firm has a market capitalization of $83.08 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.18 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, beating analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 earnings per share. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.