Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,493 shares of the semiconductor company’s stock after selling 518 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Synopsys were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the third quarter worth about $26,000. Venturi Wealth Management LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC increased its holdings in shares of Synopsys by 34.5% during the 3rd 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 position in shares of Synopsys in the 4th quarter valued at $56,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The transaction was disclosed in a legal filing 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 dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now directly 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 in the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Synopsys Stock Performance

Shares of SNPS opened at $530.59 on Wednesday. The stock has a 50 day moving average price of $563.22 and a 200 day moving average price of $537.21. The stock has a market capitalization of $80.91 billion, a price-to-earnings ratio of 58.44, a PEG ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a one year low of $365.46 and a one year 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 analysts’ consensus estimates of $3.43 by $0.13. The business 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 company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 earnings per share. On average, analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current year.

About Synopsys

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.