Synopsys, Inc. (NASDAQ:SNPS) Position Boosted by Sivia Capital Partners LLC

Sivia Capital Partners LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 544 shares of the semiconductor company’s stock after purchasing an additional 23 shares during the period. Sivia Capital Partners LLC’s holdings in Synopsys were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Mutual Advisors LLC boosted its holdings in shares of Synopsys by 3.1% in the third quarter. Mutual Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $392,000 after buying an additional 26 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Synopsys by 1.8% in the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after buying an additional 20 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the period. Truist Financial Corp boosted its holdings in shares of Synopsys by 119.2% in the third quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock worth $12,680,000 after buying an additional 15,024 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Synopsys by 18.8% in the third quarter. Advisors Asset Management Inc. now owns 6,787 shares of the semiconductor company’s stock worth $3,115,000 after buying an additional 1,072 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Finally, Robert W. Baird raised their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $625.82.

Synopsys Price Performance

SNPS traded down $1.57 during midday trading on Wednesday, hitting $608.09. 238,844 shares of the company’s stock traded hands, compared to its average volume of 1,085,755. The company has a market cap of $93.17 billion, a PE ratio of 66.21, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. The stock’s fifty day simple moving average is $573.27 and its 200-day simple moving average is $557.04. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business posted $1.76 EPS. Synopsys’s revenue was up 15.2% compared to the same quarter last year. On average, research analysts expect that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Activity

In other news, insider Geus Aart De sold 5,893 shares of Synopsys stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $602.00, for a total value of $3,547,586.00. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,403,766. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 5,893 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $602.00, for a total transaction of $3,547,586.00. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,403,766. The disclosure for this sale can be found here. Insiders have sold a total of 36,232 shares of company stock valued at $21,436,741 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

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.