Synopsys, Inc. (NASDAQ:SNPS) is Taika Capital LP's 5th Largest Position

Taika Capital LP grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,239 shares of the semiconductor company's stock after buying an additional 1,693 shares during the period. Synopsys accounts for approximately 4.2% of Taika Capital LP's holdings, making the stock its 5th biggest position. Taika Capital LP's holdings in Synopsys were worth $5,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys during the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new position in Synopsys in the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS traded down $21.03 during trading on Monday, reaching $429.85. 1,711,372 shares of the company traded hands, compared to its average volume of 1,200,940. The company has a market cap of $66.46 billion, a P/E ratio of 29.60, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $427.30 and a 12-month high of $624.80. The firm has a fifty day simple moving average of $500.07 and a 200 day simple moving average of $510.83.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNPS shares. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company's stock.

About Synopsys

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.