AIA Group Ltd Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• AIA Group Ltd increased its stake in Synopsys, Inc. by 73.8% in the first quarter, owning a total of 22,913 shares valued at approximately $9.83 million.
• Insider transactions saw notable sales, with CEO Sassine Ghazi and CFO Shelagh Glaser both selling a combined 18,676 shares, leading to significant decreases in their respective holdings.
• Synopsys reported a 10.3% year-over-year revenue increase, with earnings per share of $3.67, exceeding estimates of $3.40, contributing to a strong outlook from analysts.

AIA Group Ltd boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,913 shares of the semiconductor company's stock after purchasing an additional 9,727 shares during the quarter. AIA Group Ltd's holdings in Synopsys were worth $9,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Synopsys during the 4th quarter worth $29,000. Cornerstone Planning Group LLC increased its holdings in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the period. Cloud Capital Management LLC purchased a new position in Synopsys during the 1st quarter worth $36,000. Meeder Asset Management Inc. increased its holdings in Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 26 shares during the period. Finally, GoalVest Advisory LLC purchased a new position in shares of Synopsys in the 1st quarter valued at $50,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SNPS shares. Morgan Stanley reiterated an "overweight" rating and issued a $715.00 price target (up from $540.00) on shares of Synopsys in a report on Monday. KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Rosenblatt Securities lifted their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Finally, The Goldman Sachs Group started coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $630.67.

Synopsys Stock Performance

Shares of SNPS traded down $7.23 during mid-day trading on Wednesday, reaching $618.57. The company had a trading volume of 1,012,256 shares, compared to its average volume of 2,134,364. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $95.98 billion, a P/E ratio of 44.66, a PEG ratio of 4.14 and a beta of 1.15. The stock has a 50 day moving average of $553.58 and a two-hundred day moving average of $496.59.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 EPS. On average, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.