Samlyn Capital LLC Invests $19.64 Million in Synopsys, Inc. $SNPS

Key Points

• Samlyn Capital LLC purchased a new stake in Synopsys, Inc., acquiring 45,807 shares valued at approximately $19.6 million.
• Notable stakeholders, including North Star Asset Management and SlateStone Wealth, have recently increased their holdings in Synopsys, contributing to a total of 85.47% institutional ownership of the company's stock.
• Equities analysts remain optimistic about Synopsys, with a consensus rating of "Moderate Buy" and a target price averaging $638.21.

Samlyn Capital LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,807 shares of the semiconductor company's stock, valued at approximately $19,644,000.

Other institutional investors also recently modified their holdings of the company. North Star Asset Management Inc. increased its position in shares of Synopsys by 3.6% in the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after purchasing an additional 2,082 shares during the last quarter. SlateStone Wealth LLC increased its position in shares of Synopsys by 467.8% in the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after purchasing an additional 8,420 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Synopsys in the first quarter worth approximately $1,000,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Synopsys in the first quarter worth approximately $3,116,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 35.8%

SNPS stock traded down $216.59 on Wednesday, reaching $387.78. The company's stock had a trading volume of 21,110,824 shares, compared to its average volume of 1,099,943. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm has a market cap of $60.17 billion, a PE ratio of 30.44, a PEG ratio of 3.97 and a beta of 1.14. The business has a fifty day simple moving average of $597.69 and a two-hundred day simple moving average of $507.82. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a "neutral" rating and set a $605.00 price target (down from $650.00) on shares of Synopsys in a research report on Wednesday. Piper Sandler reduced their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research report on Wednesday. KeyCorp reduced their price target on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday. Morgan Stanley reiterated an "overweight" rating and set a $715.00 price target (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Finally, Stifel Nicolaus reduced their price target on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $599.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the transaction, the chief financial officer owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,031 shares of company stock valued at $13,168,999. 0.62% of the stock is currently owned by company insiders.

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.