Slotnik Capital LLC Makes New $1.92 Million Investment in Synopsys, Inc. $SNPS

Key Points

• Slotnik Capital LLC acquired a new stake in Synopsys, Inc. worth approximately $1.92 million, purchasing 4,485 shares in the first quarter.
• Institutional investors own around 85.47% of Synopsys stock, with several firms increasing their stakes during the same period.
• Synopsys shares are currently trading near $609.08, with a 52-week range between $365.74 and $651.73 and a consensus rating of "Moderate Buy" from analysts.

Slotnik Capital LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,485 shares of the semiconductor company's stock, valued at approximately $1,923,000. Synopsys makes up 0.9% of Slotnik Capital LLC's holdings, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. North Star Asset Management Inc. boosted its stake in Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 2,082 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of Synopsys by 467.8% in the 1st 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 in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Synopsys in the 1st quarter worth approximately $1,000,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Synopsys by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after buying an additional 655 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Synopsys during the 1st quarter valued at approximately $3,116,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was 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 in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $609.08 on Tuesday. The firm's 50-day moving average price is $596.04 and its 200-day moving average price is $507.14. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a market cap of $94.50 billion, a PE ratio of 43.98, a PEG ratio of 3.93 and a beta of 1.14. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Analyst Ratings Changes

A number of research firms have recently commented on SNPS. Piper Sandler increased their target price on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. KeyCorp lifted their target price on shares of Synopsys from $610.00 to $660.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

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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