SVB Wealth LLC Has $715,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

SVB Wealth LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,388 shares of the semiconductor company’s stock after buying an additional 144 shares during the period. SVB Wealth LLC’s holdings in Synopsys were worth $715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. OFI Invest Asset Management acquired a new position in shares of Synopsys during the third quarter worth approximately $26,000. Freedom Wealth Alliance LLC acquired a new position in shares of Synopsys during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC acquired a new position in shares of Synopsys during the third quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys during the third quarter worth approximately $29,000. Finally, VitalStone Financial LLC acquired a new position in shares of Synopsys during the first quarter worth approximately $30,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Robert W. Baird upped 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. 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 objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Finally, StockNews.com upgraded shares of 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $601.00.

Insider Buying and Selling at Synopsys

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction 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 completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Roy Vallee sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction 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 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. Over the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $510.71 on Friday. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The company has a market capitalization of $77.88 billion, a PE ratio of 56.25, a PEG ratio of 3.04 and a beta of 1.06. The company has a 50 day moving average price of $566.66 and a two-hundred day moving average price of $533.75.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 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 firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $1.75 earnings per share. The business’s quarterly revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

About Synopsys

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.