GAMMA Investing LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

GAMMA Investing LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,790 shares of the semiconductor company's stock after acquiring an additional 590 shares during the period. GAMMA Investing LLC's holdings in Synopsys were worth $1,196,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the last quarter. Capital World Investors boosted its holdings in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Synopsys by 21.5% in 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 purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC lifted its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities decreased 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. KeyCorp set a $540.00 target price on shares of Synopsys in a research note on Tuesday, June 3rd. Piper Sandler reiterated an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Mizuho decreased their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $502.63 on Monday. The firm has a 50-day simple moving average of $479.33 and a 200-day simple moving average of $477.10. The stock has a market capitalization of $77.99 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.11. 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 52 week low of $365.74 and a 52 week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during 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 quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.00 earnings per share. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.

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