Sequoia Financial Advisors LLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sequoia Financial Advisors LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 281.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,768 shares of the semiconductor company’s stock after purchasing an additional 4,257 shares during the period. Sequoia Financial Advisors LLC’s holdings in Synopsys were worth $2,970,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Gotham Asset Management LLC increased its stake in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares in the last quarter. Comerica Bank purchased a new position in shares of Synopsys in the third quarter worth about $14,203,000. Moody Lynn & Lieberson LLC purchased a new position in Synopsys during the third quarter valued at approximately $1,606,000. DNB Asset Management AS grew its stake in Synopsys by 18.6% during the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after acquiring an additional 8,259 shares in the last quarter. Finally, Advisor Resource Council grew its stake in Synopsys by 525.4% during the fourth quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company’s stock valued at $1,752,000 after acquiring an additional 2,858 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, Director Marc N. Casper acquired 750 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of SNPS opened at $561.97 on Friday. The firm has a market cap of $85.70 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 3.28 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The firm has a 50 day moving average price of $569.73 and a 200-day moving average price of $530.43.

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

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective 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 research note on Monday, March 18th. Finally, Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $601.00.

About Synopsys

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.