Altshuler Shaham Ltd Buys 77 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Altshuler Shaham Ltd increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 157.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 126 shares of the semiconductor company’s stock after acquiring an additional 77 shares during the period. Altshuler Shaham Ltd’s holdings in Synopsys were worth $65,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Synopsys during the third quarter worth about $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys during the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC raised its stake in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares during the period. Finally, Keener Financial Planning LLC bought a new stake in Synopsys in the 4th quarter valued at $56,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS traded down $0.61 during mid-day trading on Thursday, reaching $549.88. 410,083 shares of the company were exchanged, compared to its average volume of 1,185,437. Synopsys, Inc. has a 52 week low of $365.46 and a 52 week high of $629.38. The stock has a market capitalization of $83.86 billion, a PE ratio of 60.56, a PEG ratio of 3.14 and a beta of 1.07. The business has a 50 day simple moving average of $558.90 and a two-hundred day simple moving average of $539.18.

Synopsys (NASDAQ:SNPS) last issued its 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 during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. On average, analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on 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 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 legal filing with the SEC, which can be accessed through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 26,780 shares in the company, 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 worth $15,464,992 over the last quarter. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.