Fidelis Capital Partners LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Fidelis Capital Partners LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 837 shares of the semiconductor company’s stock after buying an additional 43 shares during the period. Fidelis Capital Partners LLC’s holdings in Synopsys were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC purchased a new position in shares of Synopsys during the third quarter valued at about $27,000. OFI Invest Asset Management purchased a new position in shares of Synopsys during the third quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the third quarter valued at about $29,000. Freedom Wealth Alliance LLC bought a new position in shares of Synopsys in the 4th quarter valued at about $26,000. Finally, VitalStone Financial LLC bought a new position in shares of Synopsys in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly 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 at this link. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s 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 transaction, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 1.7 %

Shares of SNPS stock opened at $510.71 on Friday. The company’s 50 day moving average is $566.66 and its 200 day moving average is $533.75. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38. The firm has a market cap of $77.88 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 3.04 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts anticipate that Synopsys, Inc. will post 9.78 EPS 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.