Aigen Investment Management LP Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Aigen Investment Management LP acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,540 shares of the semiconductor company’s stock, valued at approximately $793,000.

Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Synopsys in the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Synopsys in the 3rd quarter worth about $29,000. Catalyst Capital Advisors LLC increased its stake 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 acquiring an additional 29 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Synopsys in the 4th quarter worth about $56,000. Finally, Altshuler Shaham Ltd increased its stake in shares of Synopsys by 157.1% in the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc N. Casper purchased 750 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the transaction, the director now 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. Over the last quarter, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Synopsys Stock Up 0.9 %

Synopsys stock traded up $5.28 during mid-day trading on Wednesday, reaching $576.81. 312,124 shares of the company’s stock traded hands, compared to its average volume of 1,130,239. The company has a market cap of $87.96 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 3.35 and a beta of 1.07. The stock has a 50 day moving average of $557.14 and a two-hundred day moving average of $545.80. Synopsys, Inc. has a 12-month low of $390.20 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released 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. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $1.75 earnings per share. Synopsys’s revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.