Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Syon Capital LLC

Syon Capital LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 30.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,453 shares of the semiconductor company’s stock after purchasing an additional 342 shares during the quarter. Syon Capital LLC’s holdings in Synopsys were worth $748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Synopsys in the third quarter valued at $26,000. Venturi Wealth Management LLC acquired a new position in shares of Synopsys in the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys in the third quarter worth $29,000. Catalyst Capital Advisors LLC increased its stake in shares of Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new position in shares of Synopsys in the fourth quarter worth $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird upped their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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 related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred 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 transaction, 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. 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 Trading Up 2.6 %

Shares of Synopsys stock traded up $13.55 during trading on Friday, hitting $543.66. 997,114 shares of the stock were exchanged, compared to its average volume of 1,237,396. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. The company has a fifty day moving average price of $563.91 and a 200-day moving average price of $535.52. Synopsys, Inc. has a 1-year low of $362.06 and a 1-year 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. Equities research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.