Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 43.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,307 shares of the semiconductor company's stock after selling 7,120 shares during the quarter. Pinnbrook Capital Management LP's holdings in Synopsys were worth $4,792,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its stake in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company's stock worth $1,130,000 after purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company's stock valued at $401,000 after acquiring an additional 19 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company's stock valued at $528,000 after acquiring an additional 20 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Synopsys by 1.9% during the 3rd quarter. Quent Capital LLC now owns 1,138 shares of the semiconductor company's stock valued at $522,000 after acquiring an additional 21 shares during the last quarter. Finally, Allstate Corp increased its holdings in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company's stock valued at $241,000 after acquiring an additional 21 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Marc N. Casper bought 750 shares of the firm's stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the business's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marc N. Casper purchased 750 shares of Synopsys stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company's stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 over the last 90 days. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research analyst reports. Piper Sandler assumed coverage on Synopsys in a report on Thursday. They issued an "overweight" rating and a $665.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Synopsys from $620.00 to $630.00 and gave the company an "overweight" rating in a research report on Wednesday, December 13th. Needham & Company LLC restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Finally, Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Buy" and an average target price of $601.00.

Synopsys Price Performance

SNPS stock traded up $0.91 during midday trading on Monday, reaching $576.36. 605,552 shares of the company were exchanged, compared to its average volume of 1,276,720. The business has a 50-day moving average price of $568.22 and a two-hundred day moving average price of $529.13. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38. The firm has a market capitalization of $87.89 billion, a price-to-earnings ratio of 63.48, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, analysts anticipate that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

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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