PGGM Investments Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

PGGM Investments increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,907 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the quarter. PGGM Investments’ holdings in Synopsys were worth $11,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Synopsys during the 3rd quarter worth $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC boosted its stake 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 worth $52,000 after acquiring an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in shares of Synopsys during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.6 %

Shares of SNPS stock traded up $13.55 during trading hours on Friday, reaching $543.66. 997,562 shares of the stock were exchanged, compared to its average volume of 908,153. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The company’s 50-day moving average price is $563.73 and its 200-day moving average price is $536.29. The firm has a market capitalization of $82.91 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06.

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 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 firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 EPS. On average, sell-side analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird lifted 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. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Finally, Piper Sandler initiated coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $601.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last three months. Company insiders own 0.66% of the company’s stock.

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.