Knowledge Leaders Capital LLC Sells 92 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Knowledge Leaders Capital LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 956 shares of the semiconductor company’s stock after selling 92 shares during the period. Knowledge Leaders Capital LLC’s holdings in Synopsys were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in shares of Synopsys in the 3rd quarter valued at $26,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys during the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Synopsys during the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC boosted its holdings in shares of Synopsys by 34.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Synopsys during the 4th quarter valued at $56,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler started coverage on Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Robert W. Baird lifted their target price on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $601.00.

Insider Transactions at Synopsys

In other 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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Roy Vallee sold 10,000 shares of the company’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 value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’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 completion of the transaction, 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. Insiders have sold 26,832 shares of company stock worth $15,464,992 in the last 90 days. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS traded up $13.55 during midday trading on Friday, reaching $543.66. 997,562 shares of the company were exchanged, compared to its average volume of 908,153. The company’s fifty day moving average price is $563.73 and its 200 day moving average price is $535.97. The company has a market cap of $82.91 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. Synopsys, Inc. has a one year low of $362.06 and a one year high of $629.38.

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

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.