Parkside Financial Bank & Trust Has $992,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Parkside Financial Bank & Trust raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,927 shares of the semiconductor company’s stock after buying an additional 242 shares during the period. Parkside Financial Bank & Trust’s holdings in Synopsys were worth $992,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNPS. Gotham Asset Management LLC raised its holdings in Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the last quarter. abrdn plc boosted its holdings in shares of Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares during the period. Comerica Bank bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $14,203,000. Simplicity Solutions LLC raised its holdings in Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Synopsys in the third quarter worth about $1,606,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $5.90 during trading on Wednesday, hitting $533.40. The company’s stock had a trading volume of 487,083 shares, compared to its average volume of 1,231,484. The company has a market capitalization of $81.34 billion, a PE ratio of 59.20, a P/E/G ratio of 3.01 and a beta of 1.06. The business has a 50 day moving average price of $565.17 and a two-hundred day moving average price of $535.62. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, equities analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’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 value of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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