Swiss National Bank Has $244.89 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Swiss National Bank decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 475,600 shares of the semiconductor company’s stock after selling 13,900 shares during the quarter. Swiss National Bank owned about 0.31% of Synopsys worth $244,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. FMR LLC increased its position in Synopsys by 8.9% during the third 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 position in shares of Synopsys by 20.3% during the third 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 last quarter. Northern Trust Corp lifted its stake in shares of Synopsys by 4.9% in the third 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. Van ECK Associates Corp grew its position in Synopsys by 25.8% during the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after buying an additional 190,330 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Synopsys by 4.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after acquiring an additional 36,470 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

Synopsys Stock Performance

SNPS traded up $13.56 on Friday, hitting $536.94. 855,167 shares of the company were exchanged, compared to its average volume of 1,212,881. The stock’s fifty day moving average is $561.64 and its 200-day moving average is $537.01. The company has a market cap of $81.88 billion, a PE ratio of 59.13, a PEG ratio of 3.05 and a beta of 1.07. Synopsys, Inc. has a 12 month low of $365.46 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted 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. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 earnings per share. As a group, equities research analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s 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 sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 over the last ninety days. 0.66% of the stock is currently owned by company insiders.

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.