Envestnet Asset Management Inc. Purchases 5,846 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Envestnet Asset Management Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,834 shares of the semiconductor company’s stock after buying an additional 5,846 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Synopsys worth $80,241,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. American International Group Inc. raised its holdings in Synopsys by 1.0% in the 4th quarter. American International Group Inc. now owns 59,300 shares of the semiconductor company’s stock worth $30,534,000 after purchasing an additional 584 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of Synopsys by 107.7% in the fourth quarter. Cibc World Markets Corp now owns 53,790 shares of the semiconductor company’s stock worth $27,697,000 after buying an additional 27,898 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Synopsys by 294.2% in the fourth quarter. 1832 Asset Management L.P. now owns 226,246 shares of the semiconductor company’s stock worth $116,496,000 after buying an additional 168,856 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Synopsys by 2.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 9,823 shares of the semiconductor company’s stock worth $5,058,000 after buying an additional 201 shares during the last quarter. Finally, Per Stirling Capital Management LLC. purchased a new position in shares of Synopsys in the fourth quarter worth approximately $329,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 sold 22,352 shares of company stock worth $12,996,801. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 0.4 %

Synopsys stock opened at $571.45 on Monday. Synopsys, Inc. has a 12 month low of $416.87 and a 12 month high of $629.38. The firm has a market cap of $87.56 billion, a PE ratio of 62.11, a P/E/G ratio of 3.69 and a beta of 1.08. The stock’s 50 day simple moving average is $557.09 and its two-hundred day simple moving average is $550.61.

Synopsys (NASDAQ:SNPSGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.76 earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SNPS shares. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird lifted their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $616.18.

View Our Latest Stock Analysis on Synopsys

Synopsys 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

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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