Victory Capital Management Inc. Has $129.50 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Victory Capital Management Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,490 shares of the semiconductor company’s stock after purchasing an additional 11,478 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Synopsys worth $129,495,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SNPS. Hexagon Capital Partners LLC raised its position in shares of Synopsys by 7.5% during the fourth quarter. Hexagon Capital Partners LLC now owns 429 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 30 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $443,000. Mission Wealth Management LP grew its stake in shares of Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares during the last quarter. Certuity LLC bought a new position in Synopsys in the fourth quarter valued at approximately $200,000. Finally, Norden Group LLC bought a new position in Synopsys in the fourth quarter valued at approximately $235,000. 85.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the purchase, 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 sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Piper Sandler started coverage on Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird increased their target price on Synopsys from $624.00 to $640.00 and gave the stock 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

Shares of Synopsys stock opened at $522.18 on Thursday. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The firm has a market capitalization of $79.63 billion, a price-to-earnings ratio of 57.51, a PEG ratio of 3.10 and a beta of 1.07. The business has a 50-day simple moving average of $562.79 and a 200 day simple moving average of $537.10.

Synopsys (NASDAQ:SNPS) last issued its earnings results 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. On average, sell-side analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

About Synopsys

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.