Pacer Advisors Inc. Purchases 1,684 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Pacer Advisors Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,157 shares of the semiconductor company’s stock after acquiring an additional 1,684 shares during the period. Pacer Advisors Inc.’s holdings in Synopsys were worth $11,409,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNPS. Gotham Asset Management LLC increased its holdings in shares of Synopsys by 35.9% in the third 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 in the last quarter. Comerica Bank acquired a new stake in shares of Synopsys in the third quarter valued at approximately $14,203,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $1,606,000. DNB Asset Management AS increased its holdings in shares of Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Advisor Resource Council increased its holdings in shares of Synopsys by 525.4% in the fourth quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company’s stock valued at $1,752,000 after purchasing an additional 2,858 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Wells Fargo & Company lifted their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Finally, Robert W. Baird lifted their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $594.60.

Check Out Our Latest Report on SNPS

Insider Activity

In other news, insider John F. Runkel, Jr. sold 2,508 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s 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 sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Runkel, Jr. sold 2,508 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at $13,555,500.40. The disclosure for this sale can be found here. Insiders sold 36,586 shares of company stock valued at $19,868,728 in the last quarter. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $584.32 on Wednesday. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of 64.35, a price-to-earnings-growth ratio of 3.29 and a beta of 1.07. The firm has a fifty day moving average of $558.62 and a 200-day moving average of $520.91.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The firm’s revenue was up 21.1% on a year-over-year basis. Research analysts expect that Synopsys, Inc. will post 10.13 earnings per share for the current year.

Synopsys Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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