Maryland State Retirement & Pension System Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Maryland State Retirement & Pension System grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 11,825 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the period. Maryland State Retirement & Pension System’s holdings in Synopsys were worth $6,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after buying an additional 344,430 shares during the period. FMR LLC boosted its holdings in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after buying an additional 330,206 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after buying an additional 269,130 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Synopsys by 25.8% in the 4th quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock valued at $478,545,000 after buying an additional 190,330 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Synopsys by 52,466.9% in the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after buying an additional 175,764 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on 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 directly 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 is accessible through this hyperlink. Also, 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 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 ninety days, insiders sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is owned by insiders.

Synopsys Stock Up 1.6 %

NASDAQ:SNPS traded up $8.60 during mid-day trading on Monday, reaching $545.54. 674,819 shares of the stock were exchanged, compared to its average volume of 1,206,702. The company has a 50 day simple moving average of $560.26 and a 200-day simple moving average of $538.45. The stock has a market capitalization of $83.19 billion, a P/E ratio of 60.08, a P/E/G ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a 1 year low of $365.46 and a 1 year high of $629.38.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird increased their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Finally, Piper Sandler initiated coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $601.00.

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.