Synopsys, Inc. (NASDAQ:SNPS) Stock Position Boosted by Strategic Blueprint LLC

Strategic Blueprint LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 607 shares of the semiconductor company’s stock after buying an additional 31 shares during the period. Strategic Blueprint LLC’s holdings in Synopsys were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gotham Asset Management LLC raised its position in 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 acquiring an additional 2,227 shares in the last quarter. Comerica Bank bought a new stake in Synopsys during the third quarter worth approximately $14,203,000. Moody Lynn & Lieberson LLC acquired a new stake in Synopsys during the 3rd quarter valued at $1,606,000. DNB Asset Management AS lifted its holdings in shares of Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Synopsys by 6.3% during the fourth quarter. Arizona State Retirement System now owns 45,763 shares of the semiconductor company’s stock valued at $23,564,000 after buying an additional 2,694 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of several recent research reports. Piper Sandler began 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Robert W. Baird upped their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $601.00.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Roy Vallee sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $557.16 on Friday. The business’s 50-day simple moving average is $569.84 and its 200-day simple moving average is $531.19. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The firm has a market capitalization of $84.97 billion, a PE ratio of 61.36, a PEG ratio of 3.28 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last issued 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 company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. Research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.