Stevens Capital Management LP Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Stevens Capital Management LP increased its holdings in Synopsys, Inc. by 109.1%, acquiring an additional 549 shares to own a total of 1,052 shares valued at approximately $451,000.
• Several other hedge funds have also recently increased their stakes in Synopsys, with 85.47% of the stock owned by institutional investors.
• Analyst ratings have been positive, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" for the stock and an average price target of $622.33.

Stevens Capital Management LP raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 109.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,052 shares of the semiconductor company's stock after purchasing an additional 549 shares during the period. Stevens Capital Management LP's holdings in Synopsys were worth $451,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Synopsys in the 4th quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the 4th quarter valued at about $34,000. Cloud Capital Management LLC acquired a new stake in Synopsys in the 1st quarter valued at about $36,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 1.9%

Synopsys stock traded up $12.12 during mid-day trading on Wednesday, reaching $647.93. The stock had a trading volume of 674,166 shares, compared to its average volume of 1,452,759. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 3.92 and a beta of 1.12. The company has a 50-day moving average price of $521.77 and a two-hundred day moving average price of $488.50. Synopsys, Inc. has a one year low of $365.74 and a one year high of $647.20.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted 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. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company earned $3.00 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on 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 sale, 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 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 valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. KeyCorp increased their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Rosenblatt Securities increased their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Piper Sandler raised their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Bank of America increased their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $622.33.

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.