Paradigm Financial Partners LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Paradigm Financial Partners LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,888 shares of the semiconductor company’s stock after acquiring an additional 58 shares during the quarter. Paradigm Financial Partners LLC’s holdings in Synopsys were worth $2,517,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in Synopsys during the third quarter valued at approximately $26,000. Venturi Wealth Management LLC purchased a new position in Synopsys during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Synopsys during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC increased its position in shares of Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 29 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

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

Synopsys Stock Performance

Shares of Synopsys stock traded up $13.55 during trading hours on Friday, hitting $543.66. The company’s stock had a trading volume of 997,562 shares, compared to its average volume of 908,153. Synopsys, Inc. has a twelve month low of $362.06 and a twelve month high of $629.38. The firm has a fifty day moving average of $563.73 and a 200-day moving average of $536.29. The stock has a market cap 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 announced its quarterly 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 return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $1.75 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the purchase, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $585.45 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s 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 sale, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

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.