Charles Schwab Investment Management Inc. Has $437.35 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Charles Schwab Investment Management Inc. raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 849,371 shares of the semiconductor company’s stock after purchasing an additional 23,361 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Synopsys were worth $437,350,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares during the period. Ameriprise Financial Inc. lifted its position in Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares during the last quarter. Northern Trust Corp boosted its holdings in Synopsys by 4.9% during the third quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after acquiring an additional 78,848 shares during the period. Van ECK Associates Corp grew its position in shares of Synopsys by 25.8% in the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock valued at $478,545,000 after purchasing an additional 190,330 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Synopsys by 4.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock worth $406,227,000 after purchasing an additional 36,470 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS traded up $4.07 during mid-day trading on Tuesday, reaching $549.61. The company had a trading volume of 759,157 shares, compared to its average volume of 1,201,616. The company has a market capitalization of $83.82 billion, a P/E ratio of 60.53, a P/E/G ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38. The company’s 50-day moving average is $559.77 and its 200-day moving average is $539.03.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper acquired 750 shares of Synopsys stock in a transaction on Monday, March 25th. The shares were bought at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the purchase, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase 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 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.