Alaska Permanent Fund Corp Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Alaska Permanent Fund Corp grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 17.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 334 shares of the semiconductor company’s stock after acquiring an additional 50 shares during the period. Alaska Permanent Fund Corp’s holdings in Synopsys were worth $172,000 at the end of the most recent reporting period.

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

Synopsys Trading Up 2.6 %

Shares of SNPS opened at $543.66 on Friday. The stock has a fifty day moving average price of $563.73 and a 200-day moving average price of $535.97. Synopsys, Inc. has a 12 month low of $362.06 and a 12 month high of $629.38. The firm has a market cap of $82.91 billion, a PE ratio of 59.87, a P/E/G ratio of 3.10 and a beta of 1.06.

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

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the 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 transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’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 value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last quarter. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.