Alecta Tjanstepension Omsesidigt Grows Stock Holdings in Synopsys, Inc. $SNPS

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 grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,000 shares of the semiconductor company's stock after purchasing an additional 45,000 shares during the period. Alecta Tjanstepension Omsesidigt owned approximately 0.21% of Synopsys worth $169,677,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised 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 buying an additional 44 shares during the period. Saudi Central Bank acquired a new position in Synopsys during the first quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 53 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Synopsys during the fourth quarter worth $29,000. Finally, WPG Advisers LLC bought a new stake in shares of Synopsys during the first quarter worth $34,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird restated a "neutral" rating and set a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Wells Fargo & Company dropped their target price on Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 10th. KeyCorp decreased their price target on Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Stifel Nicolaus reduced their target price on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Finally, Citigroup downgraded Synopsys from a "neutral" rating to an "underperform" rating in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $585.33.

Synopsys Stock Performance

Shares of SNPS stock traded up $15.39 during trading hours on Friday, hitting $495.50. The company's stock had a trading volume of 6,094,205 shares, compared to its average volume of 3,815,305. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The stock has a market cap of $92.04 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14. The company has a 50 day moving average of $580.02 and a 200 day moving average of $506.37.

Insider Buying and Selling

In related news, Director Robert G. Painter purchased 350 shares of Synopsys stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the transaction, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company's stock, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Company Profile

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.