Geneva Partners LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Geneva Partners LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 64.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,550 shares of the semiconductor company’s stock after purchasing an additional 608 shares during the quarter. Geneva Partners LLC’s holdings in Synopsys were worth $798,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Synopsys during the third quarter worth $26,000. Freedom Wealth Alliance LLC bought a new position in shares of Synopsys during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys in the third quarter worth about $29,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Synopsys in the first quarter worth about $30,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. Needham & Company LLC restated a “buy” rating and set 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 research note 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 shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $601.00.

Synopsys Price Performance

Synopsys stock traded down $9.00 during trading hours on Friday, reaching $510.71. The stock had a trading volume of 1,192,344 shares, compared to its average volume of 1,242,291. The company has a market cap of $77.88 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 3.08 and a beta of 1.06. The business’s 50 day moving average price is $566.66 and its 200-day moving average price is $533.75. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity

In other news, Director Marc N. Casper purchased 750 shares of the stock in a transaction on Monday, March 25th. The stock was bought at an average price of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 over the last ninety days. 0.66% of the stock is currently owned by insiders.

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.