3,569 Shares in Synopsys, Inc. $SNPS Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 3,569 shares of Synopsys, Inc. for about $1.56 million, marking its entry into the semiconductor company's stock.
• Multiple institutional investors, such as Williams Jones Wealth Management and Hardy Reed LLC, have recently increased their stakes in Synopsys, with institutional ownership at approximately 85.47%.
• Recent analyst ratings are largely positive, with twelve analysts giving Synopsys a Buy rating and a consensus price target of $638.21, reflecting strong market confidence.

United Services Automobile Association purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,569 shares of the semiconductor company's stock, valued at approximately $1,563,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Williams Jones Wealth Management LLC. boosted its holdings in shares of Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after buying an additional 22 shares during the last quarter. Hardy Reed LLC raised its stake in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after acquiring an additional 22 shares during the period. Resurgent Financial Advisors LLC raised its stake in Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after acquiring an additional 22 shares during the period. Trust Asset Management LLC raised its stake in Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock valued at $757,000 after acquiring an additional 22 shares during the period. Finally, Argent Trust Co raised its stake in Synopsys by 2.8% in the 1st quarter. Argent Trust Co now owns 856 shares of the semiconductor company's stock valued at $367,000 after acquiring an additional 23 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Stock Down 0.6%

SNPS stock opened at $598.14 on Monday. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company's 50 day moving average is $594.11 and its 200 day moving average is $506.20. The stock has a market cap of $92.81 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an "overweight" rating and issued a $715.00 price objective (up from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Piper Sandler upped their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. The Goldman Sachs Group assumed coverage on Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target on the stock. Rosenblatt Securities upped their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

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.

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