Paradiem LLC Sells 1,120 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Paradiem LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,226 shares of the semiconductor company’s stock after selling 1,120 shares during the period. Paradiem LLC’s holdings in Synopsys were worth $3,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Ameriprise Financial Inc. grew its position in shares of Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after acquiring an additional 344,430 shares during the period. FMR LLC lifted its stake in shares of 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 buying an additional 330,206 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Synopsys by 228.8% during the 3rd 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 in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Synopsys by 52,466.9% during the 4th quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after buying an additional 175,764 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Synopsys by 140.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock valued at $122,850,000 after buying an additional 156,404 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In other news, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction 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 sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SNPS shares. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. 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 note on Thursday, February 22nd. Finally, 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 target price on the stock. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $601.00.

Synopsys Stock Performance

Shares of SNPS stock traded up $13.55 on Friday, hitting $543.66. 997,562 shares of the company’s stock traded hands, compared to its average volume of 908,153. Synopsys, Inc. has a one year low of $362.06 and a one year high of $629.38. The company’s fifty day simple moving average is $563.73 and its 200 day simple moving average is $536.29. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 59.87, a P/E/G ratio of 3.18 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released 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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $1.75 EPS. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, sell-side 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.