1,540 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Aigen Investment Management LP

Aigen Investment Management LP acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,540 shares of the semiconductor company's stock, valued at approximately $793,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Synopsys in the fourth quarter valued at approximately $1,272,143,000. Ameriprise Financial Inc. boosted its stake in Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company's stock valued at $925,744,000 after acquiring an additional 344,430 shares in the last quarter. FMR LLC boosted its stake in Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company's stock valued at $1,850,594,000 after acquiring an additional 330,206 shares in the last quarter. Wellington Management Group LLP boosted its stake in Synopsys by 228.8% in the third quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company's stock valued at $177,517,000 after acquiring an additional 269,130 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Synopsys by 25.8% in the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company's stock valued at $478,545,000 after acquiring an additional 190,330 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Synopsys Stock Performance

Shares of Synopsys stock traded up $1.60 during trading on Wednesday, hitting $573.13. 1,001,060 shares of the company's stock were exchanged, compared to its average volume of 1,137,448. The business has a 50-day simple moving average of $557.38 and a 200-day simple moving average of $545.99. Synopsys, Inc. has a 52-week low of $390.20 and a 52-week high of $629.38. The stock has a market capitalization of $87.40 billion, a price-to-earnings ratio of 63.12, a PEG ratio of 3.35 and a beta of 1.07.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts' consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the previous year, the firm posted $1.76 EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company's stock, valued at $15,638,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business's stock in a transaction dated 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 sale, the insider now owns 26,780 shares of the company's stock, valued at $15,638,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company's stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company's stock.

Synopsys 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.