Aigen Investment Management LP Makes New $1.25 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

Aigen Investment Management LP acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,462 shares of the semiconductor company's stock, valued at approximately $1,247,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company's stock worth $7,903,478,000 after buying an additional 278,265 shares in the last quarter. Capital World Investors raised its holdings in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock valued at $4,211,892,000 after purchasing an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company's stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC raised its holdings in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Finally, Swedbank AB raised its holdings in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 0.8 %

NASDAQ:SNPS traded up $4.49 on Wednesday, hitting $557.96. The company had a trading volume of 635,847 shares, compared to its average volume of 1,061,534. The stock has a market capitalization of $85.71 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 3.37 and a beta of 1.08. The firm has a 50 day moving average of $509.95 and a two-hundred day moving average of $545.30. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 earnings per share. As a group, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price target on the stock. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price target on the stock. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $649.82.

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.