Sage Mountain Advisors LLC Acquires Shares of 425 Synopsys, Inc. (NASDAQ:SNPS)

Sage Mountain Advisors LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 425 shares of the semiconductor company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in shares of Synopsys during the 3rd quarter worth $27,000. OFI Invest Asset Management acquired a new position in shares of Synopsys during the 3rd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Synopsys during the 3rd quarter worth $29,000. Keener Financial Planning LLC acquired a new position in shares of Synopsys during the 4th quarter worth $56,000. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Synopsys by 34.5% during 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. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNPS. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. 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 report on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $601.00.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synopsys news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Up 2.3 %

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

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate 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%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal 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.