Semanteon Capital Management LP Buys New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Semanteon Capital Management LP acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,254 shares of the semiconductor company’s stock, valued at approximately $1,161,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. Gotham Asset Management LLC increased its holdings in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares in the last quarter. abrdn plc raised its position in Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the period. Comerica Bank purchased a new stake in shares of Synopsys in the third quarter worth approximately $14,203,000. Simplicity Solutions LLC raised its holdings in shares of Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new position in Synopsys in the third quarter worth approximately $1,606,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock traded up $2.59 during midday trading on Thursday, reaching $530.11. 915,482 shares of the company were exchanged, compared to its average volume of 1,240,382. The company’s 50 day moving average price is $563.91 and its two-hundred day moving average price is $535.52. Synopsys, Inc. has a 12 month low of $362.06 and a 12 month high of $629.38. The company has a market cap of $80.84 billion, a P/E ratio of 58.38, a PEG ratio of 3.08 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS 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 firm had revenue of $1.65 billion for 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 firm’s revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Robert W. Baird raised their target price on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Finally, Piper Sandler initiated coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $601.00.

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.