Pinnacle Financial Partners Inc Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

Pinnacle Financial Partners Inc lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 132.4% in the fourth quarter, Holdings Channel reports. The firm owned 832 shares of the semiconductor company’s stock after buying an additional 474 shares during the period. Pinnacle Financial Partners Inc’s holdings in Synopsys were worth $428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Synopsys during the third quarter worth about $26,000. Freedom Wealth Alliance LLC acquired a new position in Synopsys in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC acquired a new position in Synopsys in the 3rd quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at approximately $29,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In related news, Director Roy Vallee sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,513 shares of company stock worth $12,383,323. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have 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. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Wells Fargo & Company boosted their price target on shares of Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $594.60.

Get Our Latest Analysis on SNPS

Synopsys Trading Up 1.6 %

Shares of Synopsys stock opened at $578.87 on Thursday. The company has a fifty day simple moving average of $565.17 and a 200-day simple moving average of $525.75. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The stock has a market cap of $88.30 billion, a price-to-earnings ratio of 63.75, a PEG ratio of 3.24 and a beta of 1.06.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its 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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal 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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