Dock Street Asset Management Inc. Has $11.41 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Dock Street Asset Management Inc. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,154 shares of the semiconductor company’s stock after purchasing an additional 91 shares during the quarter. Synopsys comprises about 1.8% of Dock Street Asset Management Inc.’s portfolio, making the stock its 21st biggest holding. Dock Street Asset Management Inc.’s holdings in Synopsys were worth $11,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNPS. Cibc World Market Inc. increased its position in shares of Synopsys by 58.8% during the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock worth $3,964,000 after purchasing an additional 4,402 shares during the last quarter. Prudential PLC acquired a new position in shares of Synopsys during the 1st quarter worth approximately $993,000. Sequoia Financial Advisors LLC acquired a new position in shares of Synopsys during the 1st quarter worth approximately $240,000. Covestor Ltd increased its holdings in shares of Synopsys by 18.9% during the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 43 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Synopsys by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock worth $560,000 after acquiring an additional 658 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 1.5 %

Shares of NASDAQ:SNPS traded down $7.70 during trading on Thursday, reaching $519.88. 390,849 shares of the company traded hands, compared to its average volume of 1,231,459. The company’s 50 day moving average is $568.97 and its two-hundred day moving average is $533.52. The firm has a market capitalization of $79.28 billion, a PE ratio of 58.10, a PEG ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Synopsys news, Director Marc N. Casper acquired 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, Director Marc N. Casper acquired 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction 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 sale, the insider now 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 a total of 26,832 shares of company stock worth $15,464,992 in the last ninety days. 0.66% of the stock is owned by insiders.

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.