PGGM Investments Purchases 100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

PGGM Investments lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,907 shares of the semiconductor company’s stock after acquiring an additional 100 shares during the quarter. PGGM Investments’ holdings in Synopsys were worth $11,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC increased its position in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after acquiring an additional 2,227 shares during the last quarter. abrdn plc grew its position in shares of Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the last quarter. Comerica Bank acquired a new position in shares of Synopsys in the third quarter valued at approximately $14,203,000. Simplicity Solutions LLC grew its position in shares of Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 1,539 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC acquired a new position in shares of Synopsys in the third quarter valued at approximately $1,606,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the 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 in the company, valued at approximately $35,726,501.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated 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 approximately $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 over the last three months. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Synopsys Price Performance

NASDAQ SNPS traded up $13.55 on Friday, reaching $543.66. The company had a trading volume of 997,562 shares, compared to its average volume of 908,153. The firm 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, Inc. has a fifty-two week low of $362.06 and a fifty-two week high of $629.38. The business has a 50 day moving average of $563.73 and a two-hundred day moving average of $536.29.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. As a group, research analysts predict 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.