Trifecta Capital Advisors LLC Invests $3.29 Million in Synopsys, Inc. (NASDAQ:SNPS)

Trifecta Capital Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,750 shares of the semiconductor company’s stock, valued at approximately $3,286,000.

Several other hedge funds have also added to or reduced their stakes in SNPS. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter worth about $28,000. Jones Financial Companies Lllp raised its holdings in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. WD Rutherford LLC acquired a new position in shares of Synopsys in the 1st quarter worth approximately $40,000. Rise Advisors LLC bought a new stake in shares of Synopsys in the 1st quarter valued at $46,000. Finally, Quarry LP increased its position in shares of Synopsys by 63.1% during the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after buying an additional 41 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 target price (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird increased their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and an average price target of $624.36.

Synopsys Stock Performance

Shares of Synopsys stock traded up $0.06 during trading hours on Friday, reaching $595.06. The company’s stock had a trading volume of 1,019,091 shares, compared to its average volume of 868,943. The stock’s fifty day simple moving average is $569.90 and its two-hundred day simple moving average is $556.47. The company has a market capitalization of $91.17 billion, a P/E ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, research analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders have sold 35,658 shares of company stock valued at $20,970,824 in the last three months. 0.66% of the stock is currently owned by 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.