California Public Employees Retirement System Purchases 50,193 Shares of Synopsys, Inc. (NASDAQ:SNPS)

California Public Employees Retirement System boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 506,140 shares of the semiconductor company’s stock after buying an additional 50,193 shares during the period. California Public Employees Retirement System owned approximately 0.33% of Synopsys worth $260,617,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SNPS. OFI Invest Asset Management acquired a new stake in Synopsys during the 3rd quarter worth approximately $26,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC raised its holdings in shares of Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNPS. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird boosted their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective 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 company currently has a consensus rating of “Buy” and a consensus price target of $601.00.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 over the last quarter. 0.66% of the stock is owned by company insiders.

Synopsys Trading Up 2.6 %

NASDAQ SNPS traded up $13.36 during trading on Tuesday, hitting $528.85. 392,232 shares of the company’s stock were exchanged, compared to its average volume of 1,226,862. The company has a market cap of $80.65 billion, a PE ratio of 56.77, a P/E/G ratio of 2.98 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The stock’s 50 day moving average price is $565.59 and its two-hundred day moving average price is $535.24.

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