Intrust Bank NA Has $3.61 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Intrust Bank NA lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,013 shares of the semiconductor company’s stock after selling 89 shares during the period. Intrust Bank NA’s holdings in Synopsys were worth $3,611,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new stake in Synopsys during the 3rd quarter worth $27,000. OFI Invest Asset Management acquired a new position in shares of Synopsys in the 3rd quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $29,000. Keener Financial Planning LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $56,000. Finally, Catalyst Capital Advisors LLC lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $1.10 during mid-day trading on Monday, reaching $544.76. 647,060 shares of the company’s stock were exchanged, compared to its average volume of 1,227,784. The firm has a market capitalization of $83.08 billion, a price-to-earnings ratio of 59.84, a PEG ratio of 3.18 and a beta of 1.06. The business’s fifty day moving average price is $563.73 and its 200-day moving average price is $536.58. Synopsys, Inc. has a twelve month low of $365.46 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the subject of a number of recent research reports. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Piper Sandler assumed coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Finally, Robert W. Baird raised 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. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus price target of $601.00.

Insider Buying and Selling

In related news, Director Roy Vallee sold 10,000 shares of Synopsys 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, 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. Insiders own 0.66% of the company’s stock.

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.