Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA increased its stake in Synopsys, Inc. by 50.1%, acquiring 3,845 shares, bringing its total holdings to 11,525 shares valued at approximately $4.9 million, representing 0.9% of its portfolio.
• Synopsys received multiple favorable analyst ratings, with price targets ranging from $550 to $660, resulting in an average rating of "Moderate Buy" with a consensus price target of $622.33.
• Insider activity showed significant sales, as both the CFO and CRO sold shares recently, with the CRO decreasing their holdings by 85.85%, raising concerns about insider confidence.

ABC Arbitrage SA lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 50.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,525 shares of the semiconductor company's stock after purchasing an additional 3,845 shares during the period. Synopsys comprises 0.9% of ABC Arbitrage SA's holdings, making the stock its 29th biggest position. ABC Arbitrage SA's holdings in Synopsys were worth $4,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Capital Management LLC lifted its position in shares of Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares during the last quarter. Peninsula Wealth LLC raised its stake in shares of Synopsys by 0.5% during the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after acquiring an additional 20 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its position in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after acquiring an additional 22 shares during the last quarter. Hardy Reed LLC lifted its position in Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after acquiring an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC boosted its stake in Synopsys by 2.7% in the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after acquiring an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer 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. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 over the last ninety days. Company insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Shares of SNPS stock traded down $2.62 during trading hours on Wednesday, hitting $625.88. The company's stock had a trading volume of 1,016,171 shares, compared to its average volume of 2,482,681. The stock has a market cap of $97.11 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 4.16 and a beta of 1.15. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a 50 day moving average of $534.72 and a 200 day moving average of $492.91. 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 (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 earnings per share. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent analyst reports. Rosenblatt Securities upped their price target on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. KeyCorp boosted their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Bank of America increased their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $622.33.

Synopsys Company 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.