GAMMA Investing LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

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

A number of other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in Synopsys by 14.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,927 shares of the semiconductor company’s stock worth $992,000 after purchasing an additional 242 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Synopsys by 7.1% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 910 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 60 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Synopsys by 11.0% in the 4th quarter. California Public Employees Retirement System now owns 506,140 shares of the semiconductor company’s stock valued at $260,617,000 after acquiring an additional 50,193 shares in the last quarter. RWA Wealth Partners LLC bought a new position in shares of Synopsys in the 4th quarter valued at about $220,000. Finally, Sage Mountain Advisors LLC bought a new position in shares of Synopsys in the 4th quarter valued at about $219,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNPS. Robert W. Baird raised their price objective on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Piper Sandler initiated coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. 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, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $601.00.

Synopsys Stock Up 0.0 %

Shares of SNPS stock opened at $527.52 on Thursday. The firm has a 50 day moving average price of $564.47 and a two-hundred day moving average price of $535.56. The company has a market capitalization of $80.45 billion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.75 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, research analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys 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 completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, 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 value of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. Corporate insiders own 0.66% of the company’s stock.

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.