United Asset Strategies Inc. Has $1.51 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

United Asset Strategies Inc. decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 25.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,927 shares of the semiconductor company’s stock after selling 1,009 shares during the period. United Asset Strategies Inc.’s holdings in Synopsys were worth $1,507,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gotham Asset Management LLC grew its stake in shares of Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares during the last quarter. Comerica Bank bought a new position in Synopsys in the third quarter valued at approximately $14,203,000. Moody Lynn & Lieberson LLC bought a new position in shares of Synopsys during the third quarter worth $1,606,000. Simplicity Solutions LLC boosted its position in shares of Synopsys by 55.5% during the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Synopsys by 18.6% during the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after acquiring an additional 8,259 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Synopsys stock opened at $541.09 on Wednesday. The firm has a market capitalization of $82.52 billion, a PE ratio of 59.59, a P/E/G ratio of 3.18 and a beta of 1.06. The company’s 50-day moving average is $569.50 and its 200-day moving average is $533.56. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. As a group, analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Finally, Robert W. Baird raised their price objective 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, According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $601.00.

Insider Buying and Selling

In related news, 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 of the company’s stock, valued at approximately $15,638,181. The sale 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 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. Company 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.