Tounjian Advisory Partners LLC Purchases Shares of 1,276 Synopsys, Inc. (NASDAQ:SNPS)

Tounjian Advisory Partners LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,276 shares of the semiconductor company’s stock, valued at approximately $547,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. Vanguard Group Inc. boosted its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors boosted its holdings in Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after purchasing an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 2.0%

Shares of Synopsys stock opened at $495.77 on Tuesday. The business’s 50 day simple moving average is $458.10 and its 200-day simple moving average is $482.53. The stock has a market capitalization of $76.92 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm earned $3.00 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.14.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer now directly owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

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.