Zurcher Kantonalbank Zurich Cantonalbank Has $144.80 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,206 shares of the semiconductor company’s stock after buying an additional 13,541 shares during the period. Synopsys makes up about 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 28th biggest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.19% of Synopsys worth $144,796,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in Synopsys in the third quarter valued at about $26,000. Freedom Wealth Alliance LLC bought a new stake in shares of Synopsys during the 4th quarter worth about $26,000. Venturi Wealth Management LLC bought a new stake in shares of Synopsys during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter worth about $29,000. Finally, VitalStone Financial LLC bought a new stake in shares of Synopsys during the 1st quarter worth about $30,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on SNPS shares. Robert W. Baird upped their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note 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 raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. 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. Finally, Piper Sandler initiated coverage on Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $601.00.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc N. Casper acquired 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 transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. Insiders own 0.66% of the company’s stock.

Synopsys Trading Down 0.5 %

NASDAQ SNPS traded down $2.82 during trading hours on Tuesday, reaching $541.09. 895,824 shares of the company’s stock were exchanged, compared to its average volume of 1,245,503. The stock has a market cap of $82.52 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38. The firm has a fifty day moving average of $569.53 and a 200-day moving average of $532.98.

Synopsys (NASDAQ:SNPS) last released its quarterly 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 business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. As a group, research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current year.

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.