Picton Mahoney Asset Management Has $15.80 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Picton Mahoney Asset Management lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,678 shares of the semiconductor company’s stock after selling 1,527 shares during the period. Picton Mahoney Asset Management’s holdings in Synopsys were worth $15,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew 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 period. Ameriprise Financial Inc. raised its stake in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after acquiring an additional 344,430 shares during the period. Northern Trust Corp lifted its holdings in Synopsys by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after purchasing an additional 78,848 shares during the last quarter. Van ECK Associates Corp boosted its position in Synopsys by 25.8% during the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after purchasing an additional 190,330 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 purchasing an additional 36,470 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $4.07 during mid-day trading on Tuesday, reaching $549.61. The company had a trading volume of 759,157 shares, compared to its average volume of 1,201,616. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The business’s 50-day simple moving average is $559.77 and its 200 day simple moving average is $539.03. The firm has a market cap of $83.82 billion, a price-to-earnings ratio of 60.53, a PEG ratio of 3.14 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. The firm 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%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.