GAMMA Investing LLC Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

GAMMA Investing LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPSFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 673 shares of the semiconductor company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC lifted its stake in Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after purchasing an additional 20 shares in the last quarter. UMB Bank n.a. lifted its stake in Synopsys by 1.3% in the 3rd quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 22 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp lifted its stake in Synopsys by 2.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 22 shares in the last quarter. Synovus Financial Corp lifted its stake in Synopsys by 0.7% in the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock worth $1,547,000 after purchasing an additional 23 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Synopsys by 4.0% in the 3rd quarter. CENTRAL TRUST Co now owns 653 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 25 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were 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 owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were 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 of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal 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 dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last 90 days. 0.66% of the stock is owned by company insiders.

Synopsys Trading Up 0.0 %

SNPS stock opened at $527.52 on Thursday. The firm’s 50-day moving average price is $564.47 and its two-hundred day moving average price is $535.56. 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 $80.45 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 3.08 and a beta of 1.06.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings results 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 company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. 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 report on Thursday, February 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 objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective 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, the stock has an average rating of “Buy” and a consensus target price of $601.00.

Check Out Our Latest Stock Analysis on SNPS

Synopsys Profile

(Free Report)

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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