Synopsys, Inc. (NASDAQ:SNPS) Position Increased by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,154 shares of the semiconductor company’s stock after purchasing an additional 91 shares during the period. Synopsys comprises about 1.8% of Dock Street Asset Management Inc.’s portfolio, making the stock its 21st largest holding. Dock Street Asset Management Inc.’s holdings in Synopsys were worth $11,407,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Synopsys by 4.9% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,656 shares of the semiconductor company’s stock worth $1,881,000 after acquiring an additional 172 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Synopsys during the fourth quarter worth about $651,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Synopsys by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 281,206 shares of the semiconductor company’s stock worth $144,796,000 after acquiring an additional 13,541 shares during the last quarter. Signet Financial Management LLC grew its position in shares of Synopsys by 0.6% during the fourth quarter. Signet Financial Management LLC now owns 4,392 shares of the semiconductor company’s stock worth $2,261,000 after acquiring an additional 25 shares during the last quarter. Finally, SVB Wealth LLC grew its position in shares of Synopsys by 11.6% during the fourth quarter. SVB Wealth LLC now owns 1,388 shares of the semiconductor company’s stock worth $715,000 after acquiring an additional 144 shares during the last quarter. 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 that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roy Vallee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 1.5 %

Shares of SNPS traded down $7.70 during trading hours on Thursday, reaching $519.88. The company’s stock had a trading volume of 390,849 shares, compared to its average volume of 1,231,459. The firm has a market cap of $79.28 billion, a price-to-earnings ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38. The company has a 50 day moving average of $568.97 and a two-hundred day moving average of $533.52.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $601.00.

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.