Valeo Financial Advisors LLC Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Valeo Financial Advisors LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 633 shares of the semiconductor company’s stock after purchasing an additional 103 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Synopsys were worth $326,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SNPS. Gotham Asset Management LLC boosted its holdings in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares during the last quarter. Comerica Bank acquired a new position in Synopsys in the third quarter valued at $14,203,000. Moody Lynn & Lieberson LLC purchased a new stake in Synopsys during the third quarter valued at about $1,606,000. DNB Asset Management AS increased its stake in Synopsys by 18.6% during the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after acquiring an additional 8,259 shares during the last quarter. Finally, Advisor Resource Council raised its holdings in shares of Synopsys by 525.4% in 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. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the purchase, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the business’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 of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $543.91 on Tuesday. The company’s fifty day moving average is $569.53 and its two-hundred day moving average is $532.98. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38. The stock has a market capitalization of $82.95 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping 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 firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.