New York Life Investment Management LLC Purchases 107 Shares of Synopsys, Inc. (NASDAQ:SNPS)

New York Life Investment Management LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,853 shares of the semiconductor company’s stock after buying an additional 107 shares during the period. New York Life Investment Management LLC’s holdings in Synopsys were worth $12,282,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. lifted its holdings in shares of Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after buying an additional 344,430 shares in the last quarter. FMR LLC lifted its stake in Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Synopsys by 228.8% during the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after purchasing an additional 269,130 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Synopsys by 25.8% in the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after purchasing an additional 190,330 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after buying an additional 175,764 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $519.16 on Thursday. The stock has a market capitalization of $79.17 billion, a PE ratio of 57.51, a PEG ratio of 3.10 and a beta of 1.07. The company has a 50 day moving average price of $562.79 and a 200-day moving average price of $537.10. Synopsys, Inc. has a fifty-two week low of $365.46 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data 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 return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the business posted $1.75 EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Roy Vallee sold 10,000 shares of the business’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 sale, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Finally, Robert W. Baird boosted their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $601.00.

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.