Sivia Capital Partners LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Sivia Capital Partners LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 27.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 614 shares of the semiconductor company’s stock after acquiring an additional 131 shares during the quarter. Sivia Capital Partners LLC’s holdings in Synopsys were worth $263,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter worth about $29,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the fourth quarter valued at about $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNPS. Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Rosenblatt Securities lowered their price objective on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Mizuho lowered their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. Finally, KeyCorp set a $540.00 target price on Synopsys in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $607.14.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.8%

NASDAQ:SNPS opened at $486.00 on Monday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a market capitalization of $75.41 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. The stock has a fifty day simple moving average of $456.95 and a 200 day simple moving average of $483.02.

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

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.