abrdn plc Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

abrdn plc raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 56.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,369 shares of the semiconductor company’s stock after buying an additional 30,581 shares during the period. abrdn plc owned about 0.06% of Synopsys worth $43,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $26,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Synopsys in the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $29,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Synopsys in the 1st quarter worth approximately $30,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNPS. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler initiated coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $601.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, February 23rd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, February 23rd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the 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 sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Synopsys Trading Down 1.7 %

Shares of Synopsys stock opened at $510.71 on Monday. 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 $77.88 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 2.98 and a beta of 1.06. The firm’s 50 day simple moving average is $566.66 and its two-hundred day simple moving average is $534.84.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business 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 posted $1.75 EPS. Synopsys’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Synopsys Company 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.