Paradiem LLC Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Paradiem LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,226 shares of the semiconductor company’s stock after selling 1,120 shares during the period. Paradiem LLC’s holdings in Synopsys were worth $3,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gotham Asset Management LLC increased 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 acquiring an additional 2,227 shares during the last quarter. abrdn plc grew its holdings in shares of Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares in the last quarter. Comerica Bank acquired a new position in shares of Synopsys in the third quarter valued at approximately $14,203,000. Simplicity Solutions LLC lifted its stake 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 acquiring 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 approximately $1,606,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNPS has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 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 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Trading Up 2.6 %

NASDAQ:SNPS traded up $13.55 on Friday, hitting $543.66. 997,562 shares of the stock were exchanged, compared to its average volume of 908,153. Synopsys, Inc. has a fifty-two week low of $362.06 and a fifty-two week high of $629.38. The stock has a fifty day moving average of $563.73 and a 200-day moving average of $536.29. The stock has a market cap of $82.91 billion, a PE ratio of 59.87, a PEG ratio of 3.18 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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 firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $1.75 earnings per share. As a group, analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marc N. Casper bought 750 shares of Synopsys stock in a transaction on Monday, March 25th. The shares were bought at an average price of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc N. Casper purchased 750 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the purchase, the director now 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 valued at $15,464,992 in the last quarter. Insiders own 0.66% of the company’s stock.

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.