Xponance Inc. Has $20.45 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Xponance Inc. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,718 shares of the semiconductor company’s stock after acquiring an additional 214 shares during the period. Xponance Inc.’s holdings in Synopsys were worth $20,451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Tilt Investment Management Holdings PBC purchased a new stake in shares of Synopsys in the fourth quarter valued at about $317,000. Dock Street Asset Management Inc. raised its holdings in shares of Synopsys by 0.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 22,154 shares of the semiconductor company’s stock valued at $11,407,000 after purchasing an additional 91 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Synopsys by 4.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,656 shares of the semiconductor company’s stock valued at $1,881,000 after purchasing an additional 172 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Synopsys in the fourth quarter valued at about $651,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Synopsys by 5.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 281,206 shares of the semiconductor company’s stock valued at $144,796,000 after purchasing an additional 13,541 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Robert W. Baird increased their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. 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 target for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $601.00.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 1.5 %

Shares of SNPS stock traded down $7.87 during trading hours on Thursday, reaching $519.71. The stock had a trading volume of 1,176,914 shares, compared to its average volume of 1,242,940. The stock’s fifty day simple moving average is $568.97 and its 200 day simple moving average is $533.52. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The firm has a market capitalization of $79.26 billion, a PE ratio of 58.10, a PEG ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal 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.