TIG Advisors LLC Has $5.86 Million Stock Position in Synopsys, Inc. $SNPS

TIG Advisors LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 156.2% during the 1st quarter, Holdings Channel reports. The fund owned 13,658 shares of the semiconductor company’s stock after acquiring an additional 8,327 shares during the period. TIG Advisors LLC’s holdings in Synopsys were worth $5,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Flputnam Investment Management Co. grew its holdings in Synopsys by 20.5% in the 1st quarter. Flputnam Investment Management Co. now owns 24,987 shares of the semiconductor company’s stock valued at $10,716,000 after buying an additional 4,251 shares in the last quarter. QVT Financial LP boosted its position in shares of Synopsys by 15.9% in the first quarter. QVT Financial LP now owns 4,503 shares of the semiconductor company’s stock valued at $1,931,000 after acquiring an additional 617 shares during the period. Caption Management LLC acquired a new position in shares of Synopsys in the first quarter valued at about $1,287,000. Saudi Central Bank bought a new position in Synopsys during the first quarter worth about $26,000. Finally, Baird Financial Group Inc. raised its stake in Synopsys by 208.5% in the 1st quarter. Baird Financial Group Inc. now owns 27,916 shares of the semiconductor company’s stock worth $11,972,000 after purchasing an additional 18,868 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNPS. Bank of America lifted their price target on shares of Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. KeyCorp lifted their price objective on Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. The Goldman Sachs Group started coverage on Synopsys in a report on Thursday, July 10th. They set a “buy” rating and a $620.00 target price on the stock. Wells Fargo & Company reaffirmed a “positive” rating on shares of Synopsys in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.64.

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Trading Down 1.4%

Shares of SNPS opened at $603.52 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm has a market cap of $93.64 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.97 and a beta of 1.14. The business’s fifty day moving average is $583.07 and its 200-day moving average is $503.25.

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.