Sage Mountain Advisors LLC Acquires New Position in Synopsys, Inc. (NASDAQ:SNPS)

Sage Mountain Advisors LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 425 shares of the semiconductor company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Venturi Wealth Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $27,000. OFI Invest Asset Management purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $29,000. Keener Financial Planning LLC purchased a new stake in shares of Synopsys in the 4th quarter worth approximately $56,000. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 29 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction 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 sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction 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 sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of the stock in a transaction on 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 sale, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Synopsys Trading Up 2.3 %

Shares of Synopsys stock opened at $527.50 on Wednesday. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The firm has a market capitalization of $80.44 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.01 and a beta of 1.06. The firm’s 50 day simple moving average is $565.17 and its two-hundred day simple moving average is $535.62.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 EPS. On average, sell-side analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.