Duality Advisers LP Invests $6.64 Million in Synopsys, Inc. (NASDAQ:SNPS)

Duality Advisers LP acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,897 shares of the semiconductor company's stock, valued at approximately $6,641,000. Synopsys comprises 0.7% of Duality Advisers LP's holdings, making the stock its 3rd largest position.

Other hedge funds have also bought and sold shares of the company. Gotham Asset Management LLC lifted its stake in Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company's stock valued at $3,868,000 after purchasing an additional 2,227 shares during the last quarter. Comerica Bank acquired a new stake in Synopsys in the 3rd quarter valued at about $14,203,000. Simplicity Solutions LLC raised its holdings in Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company's stock valued at $2,219,000 after acquiring an additional 1,539 shares during the period. Moody Lynn & Lieberson LLC bought a new position in Synopsys in the 3rd quarter valued at about $1,606,000. Finally, DNB Asset Management AS raised its holdings in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company's stock valued at $27,141,000 after acquiring an additional 8,259 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ:SNPS traded down $9.00 during mid-day trading on Friday, reaching $510.71. The stock had a trading volume of 1,192,553 shares, compared to its average volume of 880,871. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The stock has a market capitalization of $77.88 billion, a PE ratio of 56.25, a P/E/G ratio of 2.98 and a beta of 1.06. The stock has a 50-day simple moving average of $566.66 and a two-hundred day simple moving average of $534.84.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $1.75 EPS. The company's revenue was up 21.1% compared to the same quarter last year. Equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird increased their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an "outperform" rating in a report on Thursday, February 22nd. StockNews.com raised shares of Synopsys from a "hold" rating to a "buy" rating in a report on Monday, March 18th. Rosenblatt Securities reissued a "buy" rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Finally, Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They set an "overweight" rating and a $665.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $601.00.

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.

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