Motley Fool Asset Management LLC Has $2.37 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Motley Fool Asset Management LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,598 shares of the semiconductor company’s stock after purchasing an additional 239 shares during the period. Motley Fool Asset Management LLC’s holdings in Synopsys were worth $2,368,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. DAVENPORT & Co LLC bought a new stake in shares of Synopsys during the third quarter worth approximately $208,000. Exchange Traded Concepts LLC raised its stake in shares of Synopsys by 37.3% during the third quarter. Exchange Traded Concepts LLC now owns 2,609 shares of the semiconductor company’s stock worth $1,197,000 after buying an additional 709 shares during the last quarter. Caprock Group LLC raised its stake in shares of Synopsys by 14.9% during the third quarter. Caprock Group LLC now owns 1,588 shares of the semiconductor company’s stock worth $729,000 after buying an additional 206 shares during the last quarter. CX Institutional raised its stake in shares of Synopsys by 24.3% during the third quarter. CX Institutional now owns 947 shares of the semiconductor company’s stock worth $435,000 after buying an additional 185 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Synopsys by 1.3% during the third quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock worth $789,000 after buying an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Synopsys Price Performance

Shares of Synopsys stock traded up $13.55 on Friday, hitting $543.66. The company had a trading volume of 997,369 shares, compared to its average volume of 1,237,400. The firm has a market capitalization of $82.91 billion, a P/E ratio of 59.87, a P/E/G ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a twelve month low of $362.06 and a twelve month high of $629.38. The stock has a 50-day moving average of $563.73 and a 200-day moving average of $535.97.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 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 during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. Equities analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Buying and Selling

In related news, Director Roy Vallee sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, Director Roy Vallee sold 10,000 shares of the 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 completion of the sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the 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 owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by insiders.

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.