Penserra Capital Management LLC Has $14.51 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Penserra Capital Management LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 36.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,827 shares of the semiconductor company's stock after buying an additional 9,017 shares during the quarter. Penserra Capital Management LLC's holdings in Synopsys were worth $14,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the 4th quarter worth approximately $34,000. Cloud Capital Management LLC bought a new position in shares of Synopsys during the 1st quarter worth approximately $36,000. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys 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 directly owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred 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 owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SNPS shares. Piper Sandler reissued an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Bank of America cut their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Mizuho decreased their price target 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Stock Up 2.8%

Shares of SNPS stock traded up $14.99 on Tuesday, hitting $551.51. The stock had a trading volume of 1,314,709 shares, compared to its average volume of 1,181,853. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $491.74 and a 200 day moving average price of $478.25. The company has a market cap of $85.57 billion, a PE ratio of 39.82, a P/E/G ratio of 3.62 and a beta of 1.12. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

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

About Synopsys

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.