Algebris UK Ltd Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Algebris UK Ltd reduced its stake in Synopsys, Inc. by 58.2%, owning only 532 shares valued at approximately $211,000.
• Multiple institutional investors have shown interest in Synopsys, with Cornerstone Planning Group LLC increasing its holdings by 275% during the first quarter.
• Wall Street analysts generally have a **positive outlook**, with an average price target of **$622.33** and thirteen analyst buy ratings for the stock.

Algebris UK Ltd decreased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 58.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 532 shares of the semiconductor company's stock after selling 741 shares during the period. Algebris UK Ltd's holdings in Synopsys were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC increased its holdings in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys during the first quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNPS. Piper Sandler upped their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Rosenblatt Securities raised their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Finally, Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $622.33.

Synopsys Trading Down 1.5%

NASDAQ SNPS opened at $592.63 on Tuesday. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $618.49. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 3.98 and a beta of 1.12. The business's fifty day moving average is $519.36 and its 200 day moving average is $487.47.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 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. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the business'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 transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive directly owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

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.

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