Livforsakringsbolaget Skandia Omsesidigt Acquires 172 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,656 shares of the semiconductor company’s stock after acquiring an additional 172 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Synopsys were worth $1,881,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in Synopsys in the fourth quarter worth $651,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Synopsys by 5.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 281,206 shares of the semiconductor company’s stock worth $144,796,000 after purchasing an additional 13,541 shares during the period. Signet Financial Management LLC raised its holdings in Synopsys by 0.6% in the fourth quarter. Signet Financial Management LLC now owns 4,392 shares of the semiconductor company’s stock worth $2,261,000 after purchasing an additional 25 shares during the period. SVB Wealth LLC raised its holdings in Synopsys by 11.6% in the fourth quarter. SVB Wealth LLC now owns 1,388 shares of the semiconductor company’s stock worth $715,000 after purchasing an additional 144 shares during the period. Finally, Sentry Investment Management LLC raised its holdings in Synopsys by 83.8% in the fourth quarter. Sentry Investment Management LLC now owns 1,625 shares of the semiconductor company’s stock worth $837,000 after purchasing an additional 741 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 1.1 %

NASDAQ SNPS opened at $521.59 on Thursday. The firm has a 50-day moving average price of $568.97 and a two-hundred day moving average price of $533.52. The company has a market capitalization of $79.54 billion, a P/E ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 EPS. Equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. 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. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Robert W. Baird lifted their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.