Triasima Portfolio Management inc. Buys 1,936 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Triasima Portfolio Management inc. raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,262 shares of the semiconductor company's stock after buying an additional 1,936 shares during the period. Triasima Portfolio Management inc.'s holdings in Synopsys were worth $3,224,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SNPS. Norges Bank bought a new position in shares of Synopsys in the fourth quarter valued at $891,507,000. Alliancebernstein L.P. grew its position in Synopsys by 351.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company's stock worth $566,170,000 after purchasing an additional 1,380,699 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Synopsys by 113,493.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company's stock worth $421,450,000 after purchasing an additional 1,318,798 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Synopsys by 90.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company's stock worth $244,353,000 after purchasing an additional 347,807 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company's stock worth $925,744,000 after purchasing an additional 344,430 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. Robert W. Baird lifted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler initiated coverage on shares of Synopsys in a report on Thursday, April 4th. They set an "overweight" rating and a $665.00 price target on the stock. Finally, Rosenblatt Securities restated a "buy" rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $601.00.

Synopsys Price Performance

Shares of SNPS stock traded down $4.81 on Friday, hitting $557.16. The company's stock had a trading volume of 810,870 shares, compared to its average volume of 980,433. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The firm's fifty day moving average price is $569.84 and its 200-day moving average price is $531.80. The stock has a market capitalization of $84.97 billion, a price-to-earnings ratio of 61.36, a P/E/G ratio of 3.28 and a beta of 1.06.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business earned $1.75 EPS. Synopsys's quarterly revenue was up 21.1% compared to the same quarter last year. Analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now owns 61,863 shares of the company's stock, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company's stock, valued at approximately $15,638,181. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company's stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% 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.