Tilt Investment Management Holdings PBC Takes $317,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Tilt Investment Management Holdings PBC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 616 shares of the semiconductor company’s stock, valued at approximately $317,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. Norges Bank bought a new position in shares of Synopsys in the 4th quarter worth about $891,507,000. Alliancebernstein L.P. lifted its holdings in Synopsys by 351.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company’s stock worth $566,170,000 after acquiring an additional 1,380,699 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Synopsys by 113,493.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company’s stock valued at $421,450,000 after acquiring an additional 1,318,798 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Synopsys by 90.2% during the first quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company’s stock valued at $244,353,000 after purchasing an additional 347,807 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after purchasing an additional 344,430 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,832 shares of company stock worth $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock traded down $7.49 on Thursday, hitting $520.09. The company had a trading volume of 782,378 shares, compared to its average volume of 1,237,330. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The company has a market cap of $79.31 billion, a PE ratio of 58.10, a PEG ratio of 3.16 and a beta of 1.06. The business has a 50-day simple moving average of $568.97 and a 200-day simple moving average of $533.52.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $1.75 EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Robert W. Baird upped their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $601.00.

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.