Cerity Partners LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Cerity Partners LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 127.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,758 shares of the semiconductor company’s stock after buying an additional 4,351 shares during the quarter. Cerity Partners LLC’s holdings in Synopsys were worth $3,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gotham Asset Management LLC grew its holdings in shares of Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares during the period. Comerica Bank purchased a new stake in shares of Synopsys during the 3rd quarter worth about $14,203,000. Moody Lynn & Lieberson LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth about $1,606,000. DNB Asset Management AS grew its holdings in shares of Synopsys by 18.6% during the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after purchasing an additional 8,259 shares during the period. Finally, Advisor Resource Council grew its holdings in shares of Synopsys by 525.4% during the 4th quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company’s stock worth $1,752,000 after purchasing an additional 2,858 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

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

Synopsys Stock Down 2.5 %

Shares of SNPS opened at $527.58 on Thursday. The business’s 50 day moving average is $568.97 and its two-hundred day moving average is $533.52. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38. The firm has a market cap of $80.46 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for 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%. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS. On average, equities analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction 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 approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction 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 approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

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.