Advisor Resource Council Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Advisor Resource Council grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 525.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,402 shares of the semiconductor company’s stock after acquiring an additional 2,858 shares during the period. Advisor Resource Council’s holdings in Synopsys were worth $1,752,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Gotham Asset Management LLC raised its position in Synopsys by 35.9% during 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 during the period. Comerica Bank purchased a new position in Synopsys during the third quarter worth about $14,203,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of Synopsys during the third quarter worth about $1,606,000. DNB Asset Management AS lifted its position in shares of Synopsys by 18.6% during the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Capital International Inc. CA raised its holdings in Synopsys by 37.4% in the second quarter. Capital International Inc. CA now owns 20,277 shares of the semiconductor company’s stock valued at $8,829,000 after acquiring an additional 5,516 shares in the last quarter. 84.12% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 1.3 %

Shares of SNPS stock traded down $7.81 during trading hours on Friday, hitting $594.20. 1,242,224 shares of the company were exchanged, compared to its average volume of 1,348,203. The firm has a market cap of $90.64 billion, a PE ratio of 65.44, a PEG ratio of 3.33 and a beta of 1.07. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The firm has a fifty day moving average of $554.82 and a 200 day moving average of $518.35.

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 the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion for 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 company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. Analysts expect that Synopsys, Inc. will post 10.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on SNPS shares. Wells Fargo & Company raised their price objective on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. KeyCorp upped their price target on shares of Synopsys from $540.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $550.00 price objective on shares of Synopsys in a research report on Monday, November 27th. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $594.60.

Insider Buying and Selling

In other Synopsys news, Director Roy Vallee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’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 transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,586 shares of company stock valued at $19,868,728. 0.66% of the stock is currently owned by corporate insiders.

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.