Picton Mahoney Asset Management Cuts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Picton Mahoney Asset Management trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,678 shares of the semiconductor company's stock after selling 1,527 shares during the period. Picton Mahoney Asset Management's holdings in Synopsys were worth $15,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Synopsys in the third quarter valued at $26,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys during the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys in the third quarter worth about $29,000. Catalyst Capital Advisors LLC boosted its holdings in Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in Synopsys during the 4th quarter valued at approximately $56,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper purchased 750 shares of the business's stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Synopsys news, Director Marc N. Casper purchased 750 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the purchase, the director now 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 can be accessed through this link. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company's stock.

Synopsys Stock Performance

Shares of Synopsys stock traded up $4.07 on Tuesday, reaching $549.61. 759,157 shares of the company were exchanged, compared to its average volume of 1,201,616. The firm has a market cap of $83.82 billion, a price-to-earnings ratio of 60.53, a P/E/G ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The company's 50-day moving average is $559.77 and its two-hundred day moving average is $539.03.

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, topping the consensus estimate 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 analyst estimates of $1.65 billion. During the same period last year, the company earned $1.75 earnings per share. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

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