Alaska Permanent Fund Corp Has $172,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Alaska Permanent Fund Corp boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334 shares of the semiconductor company’s stock after buying an additional 50 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Synopsys were worth $172,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Synopsys by 8.9% during the third 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 during the last quarter. Ameriprise Financial Inc. raised its holdings in Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares in the last quarter. Northern Trust Corp lifted its position in shares of Synopsys by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock worth $774,559,000 after buying an additional 78,848 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Synopsys by 4.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after buying an additional 36,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Synopsys by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 826,010 shares of the semiconductor company’s stock valued at $379,114,000 after acquiring an additional 7,294 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, 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 transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares in the company, valued at $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’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 of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $543.66 on Friday. Synopsys, Inc. has a one year low of $362.06 and a one year high of $629.38. The company has a market cap of $82.91 billion, a PE ratio of 59.87, a P/E/G ratio of 3.10 and a beta of 1.06. The stock has a 50-day moving average of $563.73 and a 200-day moving average of $535.97.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS 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 analysts’ expectations of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.