Tounjian Advisory Partners LLC Invests $547,000 in Synopsys, Inc. (NASDAQ:SNPS)

Tounjian Advisory Partners LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,276 shares of the semiconductor company's stock, valued at approximately $547,000.

Other hedge funds also recently made changes to their positions in the company. Advisors Capital Management LLC boosted its stake in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its stake in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after buying an additional 20 shares during the last quarter. Edge Capital Group LLC boosted its stake in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. boosted its stake in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after buying an additional 20 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS traded down $16.13 during trading on Friday, hitting $478.86. 1,162,459 shares of the stock were exchanged, compared to its average volume of 1,156,170. The firm has a 50 day simple moving average of $464.37 and a 200 day simple moving average of $482.35. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced 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 business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.00 EPS. As a group, equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNPS shares. Bank of America dropped their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp set a $540.00 price target on Synopsys in a research note on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Piper Sandler restated an "overweight" rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

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.