Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,853 shares of the semiconductor company’s stock after purchasing an additional 107 shares during the period. New York Life Investment Management LLC’s holdings in Synopsys were worth $12,282,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new stake in Synopsys during the 3rd quarter worth $208,000. Valeo Financial Advisors LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at about $243,000. Commonwealth Equity Services LLC boosted its position in shares of Synopsys by 5.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock valued at $2,932,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Synopsys by 61.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,881 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 1,484 shares during the last quarter. Finally, Raymond James & Associates increased its position in Synopsys by 32.0% during the third quarter. Raymond James & Associates now owns 118,431 shares of the semiconductor company’s stock worth $54,356,000 after buying an additional 28,739 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.6 %

NASDAQ SNPS opened at $519.16 on Thursday. The stock has a market capitalization of $79.17 billion, a P/E ratio of 57.51, a P/E/G ratio of 3.10 and a beta of 1.07. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38. The firm has a 50-day moving average price of $562.79 and a 200 day moving average price of $537.10.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $1.75 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities research analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company’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 transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction on Wednesday, April 3rd. The stock was 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 directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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