Capital Investment Advisory Services LLC Takes $209,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Capital Investment Advisory Services LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 405 shares of the semiconductor company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in Synopsys in the 3rd quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in Synopsys in the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Synopsys in the 3rd quarter worth about $29,000. Keener Financial Planning LLC purchased a new stake in Synopsys in the 4th quarter worth about $56,000. Finally, Catalyst Capital Advisors LLC raised its position in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 29 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synopsys 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 value 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s 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 completion of the transaction, 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. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $527.52 on Thursday. The firm’s 50 day moving average price is $564.47 and its 200-day moving average price is $535.56. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38. The company has a market cap of $80.45 billion, a PE ratio of 58.10, a P/E/G ratio of 3.08 and a beta of 1.06.

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