TIG Advisors LLC Buys 8,327 Shares of Synopsys, Inc. $SNPS

Key Points

• TIG Advisors LLC significantly increased its stake in Synopsys, Inc. by 156.2%, acquiring an additional 8,327 shares valued at approximately $5.86 million.
• Institutional investors now own 85.47% of Synopsys's stock, indicating strong institutional support in the company's equity.
• Analysts have raised their price targets for Synopsys, with Piper Sandler setting a new target of $660.00 and Morgan Stanley raising theirs to $715.00, reflecting a generally positive outlook on the company's performance.

TIG Advisors LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 156.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,658 shares of the semiconductor company's stock after acquiring an additional 8,327 shares during the period. TIG Advisors LLC's holdings in Synopsys were worth $5,857,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Flputnam Investment Management Co. raised its holdings in Synopsys by 20.5% in the first quarter. Flputnam Investment Management Co. now owns 24,987 shares of the semiconductor company's stock worth $10,716,000 after purchasing an additional 4,251 shares during the period. QVT Financial LP increased its position in shares of Synopsys by 15.9% in the 1st quarter. QVT Financial LP now owns 4,503 shares of the semiconductor company's stock valued at $1,931,000 after buying an additional 617 shares in the last quarter. Caption Management LLC acquired a new stake in Synopsys during the 1st quarter worth $1,287,000. Saudi Central Bank bought a new position in Synopsys during the first quarter worth about $26,000. Finally, Baird Financial Group Inc. grew its stake in Synopsys by 208.5% in the first quarter. Baird Financial Group Inc. now owns 27,916 shares of the semiconductor company's stock valued at $11,972,000 after acquiring an additional 18,868 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total value 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 approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated 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 owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler raised their price target on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. The Goldman Sachs Group began coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective on the stock. Rosenblatt Securities increased their target price on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Bank of America increased their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average target price of $634.64.

Synopsys Stock Performance

SNPS opened at $603.52 on Monday. The business's 50-day simple moving average is $583.07 and its 200 day simple moving average is $503.25. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. 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 capitalization of $93.64 billion, a PE ratio of 43.58, a PEG ratio of 3.97 and a beta of 1.14.

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.

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