STF Management LP Has $1.45 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

STF Management LP cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,529 shares of the semiconductor company’s stock after selling 32 shares during the quarter. STF Management LP’s holdings in Synopsys were worth $1,445,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bay Harbor Wealth Management LLC bought a new position in shares of Synopsys in the first quarter valued at about $26,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Activest Wealth Management bought a new position in shares of Synopsys in the first quarter valued at about $35,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 2.4 %

SNPS stock traded up $14.31 during mid-day trading on Friday, hitting $621.30. The stock had a trading volume of 946,152 shares, compared to its average volume of 704,159. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The firm has a market capitalization of $95.20 billion, a P/E ratio of 67.53, a P/E/G ratio of 3.92 and a beta of 1.07. The firm has a fifty day simple moving average of $577.95 and a 200 day simple moving average of $558.16.

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 net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.76 earnings per share. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,021 shares of company stock worth $23,140,653. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price target (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. KeyCorp raised their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Robert W. Baird raised their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price 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.