Tokio Marine Asset Management Co. Ltd. Purchases 124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Tokio Marine Asset Management Co. Ltd. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,691 shares of the semiconductor company’s stock after acquiring an additional 124 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Synopsys were worth $1,901,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SNPS. Gotham Asset Management LLC boosted its position in shares of Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after buying an additional 2,227 shares during the last quarter. abrdn plc boosted its position in shares of Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after buying an additional 30,581 shares during the last quarter. Comerica Bank purchased a new position in Synopsys in the third quarter worth about $14,203,000. Simplicity Solutions LLC boosted its position in Synopsys by 55.5% in the fourth 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 during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in Synopsys in the third quarter worth about $1,606,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Synopsys Stock Up 0.9 %

NASDAQ SNPS traded up $4.54 during trading on Thursday, hitting $532.06. 472,795 shares of the stock traded hands, compared to its average volume of 1,234,419. The company has a market capitalization of $81.14 billion, a P/E ratio of 58.10, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. The firm has a 50-day simple moving average of $564.47 and a 200-day simple moving average of $535.56. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during 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 company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys 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 $11,587,400. 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 quarter. 0.66% of the stock is owned by company insiders.

Synopsys 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.