UMB Bank n.a. Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

UMB Bank n.a. lifted its stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 847.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,295 shares of the semiconductor company’s stock after acquiring an additional 14,576 shares during the quarter. UMB Bank n.a.’s holdings in Synopsys were worth $8,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at about $27,000. OFI Invest Asset Management acquired a new stake in Synopsys in the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Synopsys in the third quarter valued at $29,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Synopsys during the 4th quarter worth $26,000. Finally, VitalStone Financial LLC acquired a new position in shares of Synopsys during the 1st quarter worth $30,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 1.2 %

NASDAQ SNPS opened at $569.82 on Wednesday. The stock has a market cap of $86.92 billion, a price-to-earnings ratio of 62.76, a price-to-earnings-growth ratio of 3.28 and a beta of 1.06. The business has a fifty day moving average of $564.75 and a 200-day moving average of $524.92. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The business 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 quarter in the prior year, the firm posted $1.75 earnings per share. As a group, analysts anticipate that Synopsys, Inc. will post 10.06 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. 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 note on Thursday, February 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Finally, Wells Fargo & Company upped their target price on Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average target price of $594.60.

Check Out Our Latest Stock Analysis on Synopsys

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred 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 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, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders have sold 21,513 shares of company stock worth $12,383,323 over the last quarter. 0.66% of the stock is currently owned by insiders.

About Synopsys

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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