Callan Capital LLC Makes New $224,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Callan Capital LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 522 shares of the semiconductor company's stock, valued at approximately $224,000.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Synopsys in the 4th quarter worth $583,608,000. GAMMA Investing LLC boosted its position in shares of Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after acquiring an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Capital Research Global Investors bought a new position in Synopsys during the 4th quarter valued at about $239,864,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. KeyCorp set a $540.00 price objective on Synopsys in a report on Tuesday, June 3rd. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. Bank of America decreased their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Rosenblatt Securities cut their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Stock Up 2.8%

Shares of SNPS opened at $551.51 on Wednesday. The firm's 50 day moving average is $493.55 and its 200-day moving average is $478.76. The stock has a market capitalization of $85.57 billion, a PE ratio of 39.82, a P/E/G ratio of 3.54 and a beta of 1.12. 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 12 month low of $365.74 and a 12 month high of $624.80.

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

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

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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