OLD Mission Capital LLC Invests $214,000 in Synopsys, Inc. (NASDAQ:SNPS)

Posted by Defense World Staff on Mar 1st, 2023

OLD Mission Capital LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 700 shares of the semiconductor company’s stock, valued at approximately $214,000.

Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Synopsys in the 3rd quarter valued at $35,000. MV Capital Management Inc. lifted its holdings in Synopsys by 47.2% during the 3rd quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 42 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in Synopsys during the 2nd quarter valued at $42,000. Larson Financial Group LLC acquired a new stake in shares of Synopsys during the second quarter worth $44,000. Finally, SouthState Corp acquired a new stake in shares of Synopsys during the second quarter worth $50,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNPS. KeyCorp lifted their price target on Synopsys from $455.00 to $467.00 and gave the company an “overweight” rating in a research note on Thursday, December 1st. Rosenblatt Securities restated a “buy” rating and set a $420.00 price target on shares of Synopsys in a research report on Tuesday, February 14th. Wells Fargo & Company lifted their price objective on Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Atlantic Securities assumed coverage on Synopsys in a research report on Tuesday, January 17th. They set an “overweight” rating on the stock. Finally, Needham & Company LLC boosted their price objective on Synopsys from $420.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $424.18.

Synopsys Stock Performance

SNPS stock opened at $363.76 on Wednesday. The firm has a 50 day simple moving average of $344.36 and a 200 day simple moving average of $329.50. Synopsys, Inc. has a 52 week low of $255.02 and a 52 week high of $391.17. The stock has a market cap of $55.40 billion, a P/E ratio of 60.03, a P/E/G ratio of 3.22 and a beta of 1.21.

Synopsys (NASDAQ:SNPS – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that Synopsys, Inc. will post 7.21 EPS for the current year.

Insider Buying and Selling at Synopsys

In other news, CAO Sudhindra Kankanwadi sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the completion of the sale, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the sale, the chief accounting officer now owns 16,723 shares in the company, valued at approximately $6,038,340.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction on Friday, February 17th. The stock was sold at an average price of $353.91, for a total value of $1,225,944.24. Following the completion of the sale, the insider now directly owns 25,112 shares of the company’s stock, valued at approximately $8,887,387.92. The disclosure for this sale can be found here. Insiders have sold a total of 65,736 shares of company stock worth $21,590,891 over the last 90 days. Insiders own 0.69% of the company’s stock.

Synopsys Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.