Knowledge Leaders Capital LLC Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Knowledge Leaders Capital LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 956 shares of the semiconductor company’s stock after selling 92 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Synopsys were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Synopsys during the third quarter worth approximately $26,000. Venturi Wealth Management LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its stake in shares of Synopsys by 34.5% during 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 in the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $56,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. 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, Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Insider Buying and Selling

In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Roy Vallee sold 10,000 shares of Synopsys 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 sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 over the last 90 days. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 2.6 %

Shares of NASDAQ:SNPS traded up $13.55 on Friday, hitting $543.66. 997,562 shares of the company were exchanged, compared to its average volume of 908,153. Synopsys, Inc. has a 1-year low of $362.06 and a 1-year high of $629.38. The stock’s 50 day moving average price is $563.73 and its 200 day moving average price is $535.97. The firm has a market capitalization of $82.91 billion, a P/E ratio of 59.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

About Synopsys

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.