Kestra Advisory Services LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,263 shares of the semiconductor company’s stock after acquiring an additional 1,539 shares during the quarter. Kestra Advisory Services LLC’s holdings in Synopsys were worth $3,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. China Universal Asset Management Co. Ltd. purchased a new stake in Synopsys in the fourth quarter worth $1,916,000. Seed Wealth Management Inc. purchased a new stake in Synopsys in the fourth quarter worth $345,000. New York State Common Retirement Fund increased its position in Synopsys by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 259,093 shares of the semiconductor company’s stock worth $82,726,000 after buying an additional 4,290 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Synopsys in the fourth quarter worth $221,000. Finally, Versor Investments LP purchased a new stake in Synopsys in the fourth quarter worth $1,005,000. 84.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on SNPS shares. StockNews.com began coverage on Synopsys in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $420.00 price target on shares of Synopsys in a report on Tuesday, February 14th. Needham & Company LLC raised their price target on Synopsys from $420.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Atlantic Securities began coverage on Synopsys in a report on Tuesday, January 17th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company lifted their price objective on Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $424.18.
Synopsys Stock Up 0.1 %
Synopsys (NASDAQ:SNPS – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. Synopsys had a return on equity of 16.88% and a net margin of 18.22%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $1.78 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Synopsys, Inc. will post 7.2 earnings per share for the current fiscal year.
Insider Buying and Selling at Synopsys
In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the sale, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Sudhindra Kankanwadi sold 4,000 shares of Synopsys stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $361.08, for a total value of $1,444,320.00. Following the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $353.91, for a total value of $1,225,944.24. Following the completion of the transaction, the insider now owns 25,112 shares in the company, valued at approximately $8,887,387.92. The disclosure for this sale can be found here. Insiders have sold 11,464 shares of company stock worth $4,235,984 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.
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