Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,825 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Synopsys were worth $6,089,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SNPS. Private Advisor Group LLC grew its holdings in Synopsys by 9.7% in the 4th quarter. Private Advisor Group LLC now owns 4,572 shares of the semiconductor company’s stock worth $2,354,000 after buying an additional 406 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in Synopsys in the fourth quarter worth approximately $352,000. Spire Wealth Management lifted its position in Synopsys by 69.4% in the fourth quarter. Spire Wealth Management now owns 1,052 shares of the semiconductor company’s stock worth $544,000 after purchasing an additional 431 shares during the period. National Bank of Canada FI lifted its position in Synopsys by 159.2% in the fourth quarter. National Bank of Canada FI now owns 143,003 shares of the semiconductor company’s stock worth $71,354,000 after purchasing an additional 87,840 shares during the period. Finally, Provence Wealth Management Group acquired a new stake in shares of Synopsys during the 4th quarter valued at $266,000. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was bought 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 $1,016,341.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Synopsys Trading Up 1.6 %

Synopsys stock traded up $8.60 during mid-day trading on Monday, hitting $545.54. 674,819 shares of the company’s stock were exchanged, compared to its average volume of 1,206,702. The stock has a market cap of $83.19 billion, a P/E ratio of 60.08, a P/E/G ratio of 3.14 and a beta of 1.07. The stock has a 50 day moving average of $560.26 and a two-hundred day moving average of $538.45. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating 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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $1.75 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.