Toroso Investments LLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Toroso Investments LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,926 shares of the semiconductor company’s stock after purchasing an additional 136 shares during the period. Toroso Investments LLC’s holdings in Synopsys were worth $1,199,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SNPS. Altshuler Shaham Ltd purchased a new position in Synopsys during the third quarter worth about $35,000. MV Capital Management Inc. raised its holdings in Synopsys by 47.2% during the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 42 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Synopsys in the second quarter valued at about $42,000. Ronald Blue Trust Inc. purchased a new position in Synopsys in the second quarter valued at about $59,000. Finally, CI Investments Inc. increased its holdings in Synopsys by 957.9% in the third quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 182 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $372.53 on Friday. The company’s 50 day simple moving average is $356.08 and its 200-day simple moving average is $329.88. The firm has a market capitalization of $56.74 billion, a PE ratio of 61.47, a P/E/G ratio of 3.28 and a beta of 1.18. Synopsys, Inc. has a 12 month low of $255.02 and a 12 month high of $391.17.

Synopsys (NASDAQ:SNPS – Get Rating) last announced its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $1.78 earnings per share. Synopsys’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 7.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Synopsys from $455.00 to $467.00 and gave the company an “overweight” rating in a report on Thursday, December 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $420.00 target price on shares of Synopsys in a report on Tuesday, February 14th. Wells Fargo & Company increased their target price on shares of Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, February 16th. Needham & Company LLC increased their target price on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, Bank of America raised shares of Synopsys from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a report on Friday, December 16th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $424.18.

Insider Buying and Selling

In related news, COO Sassine Ghazi sold 29,136 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $319.46, for a total transaction of $9,307,786.56. Following the sale, the chief operating officer now owns 52,609 shares in the company, valued at $16,806,471.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the sale, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sassine Ghazi sold 29,136 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $319.46, for a total transaction of $9,307,786.56. Following the transaction, the chief operating officer now directly owns 52,609 shares in the company, valued at approximately $16,806,471.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,736 shares of company stock worth $21,590,891. 0.69% of the stock is owned by insiders.

Synopsys Company Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.