Intelligence Driven Advisers LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Intelligence Driven Advisers LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 516 shares of the semiconductor company’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after acquiring an additional 330,206 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after purchasing an additional 344,430 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Synopsys by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after purchasing an additional 78,848 shares during the last quarter. Van ECK Associates Corp lifted its stake 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 purchasing an additional 190,330 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Synopsys by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after purchasing an additional 36,470 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Down 0.0 %

Shares of NASDAQ:SNPS traded down $0.26 during trading on Thursday, hitting $521.92. 660,386 shares of the company’s stock were exchanged, compared to its average volume of 1,211,806. The firm has a market cap of $79.59 billion, a P/E ratio of 57.51, a PEG ratio of 3.10 and a beta of 1.07. The firm has a 50-day moving average price of $562.79 and a two-hundred day moving average price of $537.10. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38.

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

Insider Transactions at Synopsys

In other Synopsys news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $585.45 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Marc N. Casper purchased 750 shares of the company’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 transaction, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last 90 days. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird raised their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler started 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. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $601.00.

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.