Commerce Bank Acquires 37 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Commerce Bank grew its position in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 0.5% in the fourth quarter, Holdings Channel reports. The fund owned 8,044 shares of the semiconductor company’s stock after acquiring an additional 37 shares during the quarter. Commerce Bank’s holdings in Synopsys were worth $4,142,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNPS. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC lifted its stake in shares of Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Synopsys in the 4th quarter valued at $56,000. Altshuler Shaham Ltd lifted its stake in shares of Synopsys by 157.1% in the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 77 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Synopsys by 52.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 54 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Up 0.2 %

Shares of Synopsys stock opened at $587.40 on Monday. The business has a 50-day moving average price of $558.67 and a two-hundred day moving average price of $547.57. Synopsys, Inc. has a 1-year low of $409.83 and a 1-year high of $629.38. The company has a market cap of $89.58 billion, a P/E ratio of 63.85, a PEG ratio of 3.57 and a beta of 1.07.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Read Our Latest Analysis on Synopsys

Insider Activity

In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were 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 of the company’s stock, valued at approximately $11,453,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synopsys news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred 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 transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. 0.66% of the stock is currently owned by company insiders.

About Synopsys

(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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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