Sycomore Asset Management Has $5.88 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Sycomore Asset Management cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 18.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,340 shares of the semiconductor company’s stock after selling 2,542 shares during the quarter. Synopsys comprises 1.3% of Sycomore Asset Management’s portfolio, making the stock its 25th biggest holding. Sycomore Asset Management’s holdings in Synopsys were worth $5,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Synopsys by 3.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,691 shares of the semiconductor company’s stock valued at $1,901,000 after buying an additional 124 shares in the last quarter. Alaska Permanent Fund Corp raised its position in shares of Synopsys by 17.6% in the 4th quarter. Alaska Permanent Fund Corp now owns 334 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Synopsys by 12.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,493 shares of the semiconductor company’s stock valued at $1,799,000 after buying an additional 389 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Synopsys by 3.5% during the 4th quarter. Yousif Capital Management LLC now owns 21,483 shares of the semiconductor company’s stock valued at $11,062,000 after purchasing an additional 723 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Synopsys during the 4th quarter valued at approximately $359,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Roy Vallee sold 10,000 shares of the 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Roy Vallee sold 10,000 shares of the 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last ninety days. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. Piper Sandler initiated coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Robert W. Baird boosted 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 currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $0.02 during trading on Wednesday, reaching $527.52. The stock had a trading volume of 1,429,053 shares, compared to its average volume of 1,244,363. The firm’s fifty day moving average is $564.47 and its 200 day moving average is $535.56. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The stock has a market cap of $80.45 billion, a price-to-earnings ratio of 58.10, a P/E/G ratio of 3.01 and a beta of 1.06.

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

About Synopsys

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.