University of Texas Texas AM Investment Managment Co. Takes $28,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55 shares of the semiconductor company’s stock, valued at approximately $28,000. Synopsys accounts for about 0.0% of University of Texas Texas AM Investment Managment Co.’s investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Coldstream Capital Management Inc. grew its stake in shares of Synopsys by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the period. Mission Wealth Management LP grew its stake in shares of Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 19 shares during the period. Fred Alger Management LLC grew its stake in shares of Synopsys by 1.8% during the third 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 during the period. Allstate Corp grew its stake in shares of Synopsys by 4.7% during the fourth quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 21 shares during the period. Finally, Mather Group LLC. lifted its holdings in Synopsys by 0.7% during the fourth quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock worth $1,625,000 after acquiring an additional 22 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper purchased 750 shares of the stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 23,288 shares of company stock valued at $13,527,485 over the last 90 days. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

SNPS traded up $3.67 on Friday, hitting $590.21. 600,800 shares of the company were exchanged, compared to its average volume of 851,994. Synopsys, Inc. has a 12 month low of $416.87 and a 12 month high of $629.38. The company has a market cap of $90.43 billion, a PE ratio of 64.15, a PEG ratio of 3.81 and a beta of 1.08. The stock’s fifty day moving average is $558.20 and its 200-day moving average is $552.03.

Synopsys (NASDAQ:SNPS) last released its 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 return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The business’s revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird lifted their target price on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average target price of $616.18.

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.