Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 159.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,003 shares of the semiconductor company’s stock after acquiring an additional 87,840 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Synopsys worth $71,354,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Synopsys by 5.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock valued at $2,932,000 after purchasing an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Synopsys by 61.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,881 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 1,484 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Synopsys by 105.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock valued at $3,718,000 after buying an additional 4,154 shares in the last quarter. Veracity Capital LLC grew its stake in Synopsys by 10.8% in the 3rd quarter. Veracity Capital LLC now owns 667 shares of the semiconductor company’s stock valued at $306,000 after acquiring an additional 65 shares during the period. Finally, Concord Wealth Partners increased its holdings in Synopsys by 17.6% in the 3rd quarter. Concord Wealth Partners now owns 588 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s 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 completion of the transaction, the chief executive officer now 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 available at this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $5,726,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last three months. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS stock traded up $13.56 during mid-day trading on Friday, reaching $536.94. The company had a trading volume of 855,779 shares, compared to its average volume of 964,656. The firm has a fifty day simple moving average of $560.86 and a 200 day simple moving average of $538.00. Synopsys, Inc. has a fifty-two week low of $365.46 and a fifty-two week high of $629.38. The company has a market capitalization of $81.88 billion, a price-to-earnings ratio of 59.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. 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. Robert W. Baird raised their price objective on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $601.00.

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.