Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 849,371 shares of the semiconductor company’s stock after acquiring an additional 23,361 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.56% of Synopsys worth $437,350,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Gotham Asset Management LLC boosted its position in Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after buying an additional 2,227 shares during the period. abrdn plc boosted its holdings in 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 period. Simplicity Solutions LLC grew its stake in Synopsys by 55.5% during the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares in the last quarter. Comerica Bank purchased a new stake in Synopsys during the 3rd quarter worth about $14,203,000. Finally, DNB Asset Management AS raised its position in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after purchasing an additional 8,259 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS traded up $4.07 during mid-day trading on Tuesday, reaching $549.61. 759,157 shares of the company’s stock were exchanged, compared to its average volume of 1,201,616. The business’s fifty day simple moving average is $559.77 and its 200-day simple moving average is $539.03. The stock has a market capitalization of $83.82 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38.

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

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Roy Vallee sold 10,000 shares of the business’s 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper purchased 750 shares of Synopsys stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now directly 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 ninety days, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Synopsys 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.