GAMMA Investing LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

GAMMA Investing LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 54,286.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,196,492 shares of the semiconductor company's stock after acquiring an additional 1,194,292 shares during the quarter. GAMMA Investing LLC owned 0.77% of Synopsys worth $513,116,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SNPS. Brighton Jones LLC boosted its holdings in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Synopsys during the 4th quarter valued at $17,162,000. Hantz Financial Services Inc. raised its position in Synopsys by 13.7% during the 4th quarter. Hantz Financial Services Inc. now owns 5,320 shares of the semiconductor company's stock valued at $2,582,000 after purchasing an additional 643 shares in the last quarter. Cibc World Market Inc. raised its position in Synopsys by 99.3% during the 4th quarter. Cibc World Market Inc. now owns 42,767 shares of the semiconductor company's stock valued at $20,757,000 after purchasing an additional 21,305 shares in the last quarter. Finally, Caprock Group LLC raised its position in Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNPS shares. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Finally, KeyCorp set a $575.00 price target on Synopsys and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $609.64.

Synopsys Trading Up 0.8%

Shares of SNPS stock traded up $3.59 during trading hours on Wednesday, hitting $469.85. The company's stock had a trading volume of 310,747 shares, compared to its average volume of 1,139,422. The company has a 50 day moving average of $454.18 and a 200 day moving average of $484.63. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a market cap of $72.90 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.00 EPS. As a group, analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys 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.