GSA Capital Partners LLP increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,702 shares of the semiconductor company's stock after purchasing an additional 646 shares during the quarter. GSA Capital Partners LLP's holdings in Synopsys were worth $730,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Capital Management LLC raised its holdings in Synopsys by 2.3% during the 4th 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 grew its holdings in Synopsys by 0.5% in 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 during the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Synopsys by 0.5% in 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 period. Hardy Reed LLC raised its stake in shares of 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 holdings in shares of Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on SNPS. Rosenblatt Securities boosted their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. KeyCorp boosted their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Piper Sandler boosted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $622.33.
Get Our Latest Stock Report on SNPS
Insider Buying and Selling at Synopsys
In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the 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 sale, the chief financial officer directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by insiders.
Synopsys Stock Down 2.3%
Shares of Synopsys stock opened at $618.65 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm has a market cap of $95.99 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 4.09 and a beta of 1.15. The company has a 50-day moving average of $529.64 and a 200 day moving average of $491.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.
Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.
About Synopsys
(
Free Report)
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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