Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,241 shares of the semiconductor company’s stock after acquiring an additional 2,903 shares during the quarter. HighTower Advisors LLC’s holdings in Synopsys were worth $17,894,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Synopsys during the fourth quarter worth about $891,507,000. Alliancebernstein L.P. increased its stake in Synopsys by 351.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company’s stock worth $566,170,000 after acquiring an additional 1,380,699 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Synopsys by 113,493.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company’s stock worth $421,450,000 after acquiring an additional 1,318,798 shares during the last quarter. Capital World Investors increased its stake in Synopsys by 15.6% during the second quarter. Capital World Investors now owns 6,197,508 shares of the semiconductor company’s stock worth $2,698,457,000 after acquiring an additional 836,667 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in Synopsys by 2,262.3% during the second quarter. Osaic Holdings Inc. now owns 757,333 shares of the semiconductor company’s stock worth $13,932,000 after acquiring an additional 725,274 shares during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.8 %

NASDAQ:SNPS opened at $575.30 on Monday. The company has a market cap of $87.44 billion, a PE ratio of 72.46, a P/E/G ratio of 3.87 and a beta of 1.07. Synopsys, Inc. has a 52 week low of $347.97 and a 52 week high of $582.85. The business’s 50 day moving average is $530.48 and its two-hundred day moving average is $493.26.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.13. Synopsys had a return on equity of 20.85% and a net margin of 21.05%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts expect that Synopsys, Inc. will post 8.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on SNPS shares. KeyCorp upped their price target on Synopsys from $540.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Needham & Company LLC increased their target price on Synopsys from $500.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $550.00 target price on shares of Synopsys in a research note on Monday, November 27th. StockNews.com lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company increased their target price on Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $576.60.

Get Our Latest Analysis on Synopsys

Insider Activity

In other news, insider John F. Runkel, Jr. sold 2,508 shares of Synopsys stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $13,555,500.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 2,508 shares of Synopsys stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total value of $1,269,499.44. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $13,555,500.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mercedes Johnson sold 3,500 shares of Synopsys stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total value of $1,731,450.00. Following the completion of the transaction, the director now owns 1,697 shares in the company, valued at $839,505.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,073 shares of company stock worth $7,485,405. 0.69% of the stock is owned by company insiders.

About Synopsys

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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