Synopsys, Inc. $SNPS Position Increased by Alecta Tjanstepension Omsesidigt

Key Points

• Alecta Tjanstepension Omsesidigt has increased its stake in Synopsys, Inc. by 15.7%, owning $169.68 million worth of shares after acquiring an additional 45,000 shares in the second quarter.
• Several hedge funds have also modified their positions in Synopsys, with some reporting significant increases in their holdings, contributing to a total institutional ownership of 85.47%.
• Analyst ratings for Synopsys have varied recently, with one firm downgrading it from "strong-buy" to "hold," while others adjusted target prices significantly, reflecting changing market sentiment.

Alecta Tjanstepension Omsesidigt increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,000 shares of the semiconductor company's stock after buying an additional 45,000 shares during the quarter. Alecta Tjanstepension Omsesidigt owned about 0.21% of Synopsys worth $169,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank bought a new position in Synopsys during the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in Synopsys during the 1st quarter valued at $34,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 3.9%

Shares of SNPS traded up $19.29 during mid-day trading on Monday, reaching $514.79. The company's stock had a trading volume of 4,773,051 shares, compared to its average volume of 4,077,129. The business has a fifty day moving average of $579.33 and a 200 day moving average of $507.65. The company has a market cap of $95.62 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert G. Painter acquired 350 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares of the company's stock, valued at $974,683.04. This represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research note on Thursday, September 11th. Piper Sandler cut their price objective on Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. Bank of America reiterated an "underperform" rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. The Goldman Sachs Group cut their price objective on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Finally, Stifel Nicolaus cut their price objective on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $585.33.

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.