Cerity Partners LLC Acquires 4,351 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Cerity Partners LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 127.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,758 shares of the semiconductor company’s stock after purchasing an additional 4,351 shares during the quarter. Cerity Partners LLC’s holdings in Synopsys were worth $3,995,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC increased its stake in shares of Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares during the period. UMB Bank n.a. increased its stake in shares of Synopsys by 1.3% in the 3rd quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock valued at $789,000 after buying an additional 22 shares during the period. Obermeyer Wood Investment Counsel Lllp increased its stake in shares of Synopsys by 2.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 22 shares during the period. Synovus Financial Corp increased its stake in shares of Synopsys by 0.7% in the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after buying an additional 23 shares during the period. Finally, State of Wyoming increased its stake in shares of Synopsys by 23.1% in the 2nd quarter. State of Wyoming now owns 128 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 24 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 in the company, valued at $15,638,181. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 in the company, valued at $15,638,181. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird lifted 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. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Finally, Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Synopsys Trading Down 2.5 %

NASDAQ:SNPS opened at $527.58 on Thursday. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The stock has a market cap of $80.46 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 3.16 and a beta of 1.06. The stock has a 50-day moving average price of $568.97 and a two-hundred day moving average price of $533.52.

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