Sapient Capital LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Sapient Capital LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 555 shares of the semiconductor company’s stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Synopsys during the 4th quarter worth $891,507,000. Alliancebernstein L.P. grew its holdings in Synopsys by 351.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company’s stock worth $566,170,000 after acquiring an additional 1,380,699 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Synopsys by 113,493.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company’s stock valued at $421,450,000 after purchasing an additional 1,318,798 shares during the period. Goldman Sachs Group Inc. increased its position in Synopsys by 90.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company’s stock valued at $244,353,000 after purchasing an additional 347,807 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after purchasing an additional 344,430 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird upped their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Finally, 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 for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated 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 completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 through this link. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on 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 of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 2.4 %

SNPS stock opened at $543.91 on Tuesday. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The stock has a market capitalization of $82.95 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. The firm has a 50 day moving average of $569.53 and a 200 day moving average of $532.98.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping 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 business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities research analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.