Motley Fool Asset Management LLC Acquires 239 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Motley Fool Asset Management LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,598 shares of the semiconductor company’s stock after purchasing an additional 239 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Synopsys were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. DAVENPORT & Co LLC bought a new stake in Synopsys during the 3rd quarter valued at $208,000. Exchange Traded Concepts LLC increased its stake in Synopsys by 37.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,609 shares of the semiconductor company’s stock valued at $1,197,000 after purchasing an additional 709 shares in the last quarter. Caprock Group LLC increased its stake in Synopsys by 14.9% during the 3rd quarter. Caprock Group LLC now owns 1,588 shares of the semiconductor company’s stock valued at $729,000 after purchasing an additional 206 shares in the last quarter. CX Institutional boosted its position in Synopsys by 24.3% during the third quarter. CX Institutional now owns 947 shares of the semiconductor company’s stock worth $435,000 after purchasing an additional 185 shares during the period. Finally, UMB Bank n.a. boosted its position in Synopsys by 1.3% during the third quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 22 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.6 %

Shares of SNPS stock traded up $13.55 during trading hours on Friday, hitting $543.66. 997,369 shares of the company’s stock were exchanged, compared to its average volume of 1,237,400. The company has a market capitalization of $82.91 billion, a PE ratio of 59.87, a PEG ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The business’s 50 day simple moving average is $563.73 and its 200-day simple moving average is $535.97.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. The firm 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%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. Equities analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNPS shares. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler started coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Robert W. Baird increased their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and issued 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 target on shares of Synopsys in a report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average rating of “Buy” and an average price target of $601.00.

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.