Synopsys, Inc. (NASDAQ:SNPS) is Taika Capital LP’s 5th Largest Position

Taika Capital LP increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,239 shares of the semiconductor company’s stock after purchasing an additional 1,693 shares during the period. Synopsys accounts for 4.2% of Taika Capital LP’s investment portfolio, making the stock its 5th largest position. Taika Capital LP’s holdings in Synopsys were worth $5,455,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in SNPS. Caprock Group LLC grew its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after acquiring an additional 20 shares during the last quarter. Edge Capital Group LLC grew its holdings in shares of Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after purchasing an additional 20 shares in the last quarter. Barden Capital Management Inc. increased its position in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 20 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $450.88 on Monday. The company has a market capitalization of $69.72 billion, a P/E ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $429.77 and a fifty-two week high of $624.80. The stock has a 50 day moving average price of $501.21 and a two-hundred day moving average price of $511.66.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research reports. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

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.