Livforsakringsbolaget Skandia Omsesidigt Acquires 172 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,656 shares of the semiconductor company’s stock after acquiring an additional 172 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Synopsys were worth $1,881,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SNPS. State Street Corp increased its position in Synopsys by 2.6% during the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock valued at $2,510,213,000 after purchasing an additional 166,992 shares during the period. FMR LLC increased its position in Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares during the period. Geode Capital Management LLC increased its position in Synopsys by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after purchasing an additional 52,624 shares during the period. Norges Bank purchased a new position in Synopsys during the 4th quarter valued at $891,507,000. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Synopsys by 6.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock worth $686,556,000 after buying an additional 133,703 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated 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 in the company, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated 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 in the company, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, the director now directly 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 sold 26,832 shares of company stock worth $15,464,992 over the last three months. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Synopsys Stock Down 1.1 %

Shares of SNPS opened at $521.59 on Thursday. The company has a market cap of $79.54 billion, a PE ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. The business has a fifty day moving average of $568.97 and a 200 day moving average of $533.52. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

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.