GAMMA Investing LLC Acquires 673 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GAMMA Investing LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 73.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,592 shares of the semiconductor company’s stock after buying an additional 673 shares during the quarter. GAMMA Investing LLC’s holdings in Synopsys were worth $947,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in Synopsys by 0.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,140 shares of the semiconductor company’s stock valued at $4,191,000 after purchasing an additional 40 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Synopsys by 204.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,383 shares of the semiconductor company’s stock valued at $712,000 after purchasing an additional 929 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its position in Synopsys by 245.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 145 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 103 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $219,000. Finally, Ballentine Partners LLC lifted its position in shares of Synopsys by 16.4% in the fourth quarter. Ballentine Partners LLC now owns 718 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 101 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNPS. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird increased their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Piper Sandler increased their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus price target of $627.18.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,363 shares of company stock worth $49,361,263. Insiders own 0.66% of the company’s stock.

Synopsys Stock Down 4.0 %

Shares of SNPS traded down $20.03 during midday trading on Monday, hitting $485.75. The company’s stock had a trading volume of 1,322,442 shares, compared to its average volume of 1,070,834. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The company’s fifty day simple moving average is $584.85 and its two-hundred day simple moving average is $567.42. The stock has a market capitalization of $74.43 billion, a price-to-earnings ratio of 53.40, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $1.76 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts predict that Synopsys, Inc. will post 9.66 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.