Parkside Financial Bank & Trust Acquires 242 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Parkside Financial Bank & Trust raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,927 shares of the semiconductor company’s stock after purchasing an additional 242 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Synopsys were worth $992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SNPS. Ameriprise Financial Inc. lifted its holdings in Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares during the period. FMR LLC boosted its holdings in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares during the last quarter. Wellington Management Group LLP grew its position in Synopsys by 228.8% during the third quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after buying an additional 269,130 shares during the period. International Assets Investment Management LLC raised its position in Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after acquiring an additional 175,764 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Synopsys by 140.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock valued at $122,850,000 after acquiring an additional 156,404 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS traded up $5.90 during trading hours on Wednesday, hitting $533.40. The stock had a trading volume of 487,083 shares, compared to its average volume of 1,231,484. The company has a 50 day simple moving average of $565.17 and a two-hundred day simple moving average of $535.62. The firm has a market capitalization of $81.34 billion, a price-to-earnings ratio of 59.20, a P/E/G ratio of 3.01 and a beta of 1.06. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $1.75 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Insider Transactions at Synopsys

In related 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 value of $5,944,887.94. Following the transaction, the chief executive officer now directly 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 related news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Piper Sandler initiated coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird increased 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. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average 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.