Cheviot Value Management LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Cheviot Value Management LLC has acquired 1,264 shares of Synopsys, Inc. valued at approximately $542,000, marking a new investment position in the semiconductor company during the first quarter.
• Institutions currently own approximately 85.47% of Synopsys's stock, with several significant investors increasing their holdings, including Capital World Investors and Price T Rowe Associates.
• Analysts have a generally positive view of Synopsys, with a consensus rating of "Moderate Buy" and a price target averaging $622.33, indicating confidence in the company's growth prospects.

Cheviot Value Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,264 shares of the semiconductor company's stock, valued at approximately $542,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. North Star Asset Management Inc. increased its holdings in shares of Synopsys by 3.6% in the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after buying an additional 2,082 shares during the last quarter. SlateStone Wealth LLC grew its position in shares of Synopsys by 467.8% in the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after buying an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in Synopsys during the 1st quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC grew its holdings in Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Synopsys during the first quarter valued at approximately $3,116,000. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

NASDAQ:SNPS traded down $7.80 during mid-day trading on Tuesday, hitting $628.22. The stock had a trading volume of 281,522 shares, compared to its average volume of 1,448,155. The company has a 50 day simple moving average of $532.39 and a 200-day simple moving average of $491.96. The stock has a market capitalization of $97.47 billion, a price-to-earnings ratio of 45.36, a P/E/G ratio of 4.09 and a beta of 1.15. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Piper Sandler raised their price target on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Rosenblatt Securities upped their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Finally, The Goldman Sachs Group started coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $622.33.

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.