Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,388 shares of the semiconductor company’s stock after selling 70 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Synopsys were worth $3,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Synopsys by 5.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock valued at $2,932,000 after purchasing an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Synopsys by 61.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,881 shares of the semiconductor company’s stock valued at $1,781,000 after buying an additional 1,484 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Synopsys by 32.0% in the third quarter. Raymond James & Associates now owns 118,431 shares of the semiconductor company’s stock valued at $54,356,000 after acquiring an additional 28,739 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Synopsys by 105.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $3,718,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Synopsys by 8.2% in the 3rd quarter. Independent Advisor Alliance now owns 3,840 shares of the semiconductor company’s stock valued at $1,762,000 after acquiring an additional 291 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler began coverage on Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price target on the stock. Robert W. Baird increased their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $601.00.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the 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 transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Synopsys Trading Up 2.6 %

Shares of NASDAQ SNPS traded up $13.56 during trading on Friday, reaching $536.94. The company had a trading volume of 855,779 shares, compared to its average volume of 964,656. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The stock has a 50-day moving average price of $561.64 and a two-hundred day moving average price of $537.01. The stock has a market capitalization of $81.88 billion, a PE ratio of 59.13, a price-to-earnings-growth ratio of 3.06 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Synopsys Company 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.