Sivia Capital Partners LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Sivia Capital Partners LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 544 shares of the semiconductor company’s stock after purchasing an additional 23 shares during the period. Sivia Capital Partners LLC’s holdings in Synopsys were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SNPS. Norges Bank purchased a new position in shares of Synopsys in the 4th quarter valued at $1,272,143,000. Global Assets Advisory LLC purchased a new position in shares of Synopsys in the 1st quarter valued at $282,876,000. Ameriprise Financial Inc. grew its position 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 buying an additional 344,430 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after buying an additional 269,130 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of SNPS stock traded down $1.57 during mid-day trading on Wednesday, hitting $608.09. The stock had a trading volume of 238,844 shares, compared to its average volume of 1,085,755. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The firm has a market cap of $93.17 billion, a PE ratio of 66.21, a PEG ratio of 3.84 and a beta of 1.07. The company’s 50-day simple moving average is $573.27 and its 200-day simple moving average is $557.04.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 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 firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $1.76 EPS. The firm’s revenue was up 15.2% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total value of $3,197,590.00. Following the completion of the sale, the director now owns 1,543 shares in the company, valued at $897,069.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,339,400. The disclosure for this sale can be found here. Insiders sold 36,232 shares of company stock worth $21,436,741 over the last 90 days. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $625.82.

Synopsys 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.