AMI Asset Management Corp raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 56.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,884 shares of the semiconductor company's stock after buying an additional 29,065 shares during the period. Synopsys accounts for 2.0% of AMI Asset Management Corp's holdings, making the stock its 24th largest holding. AMI Asset Management Corp's holdings in Synopsys were worth $35,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Synopsys during the 2nd quarter valued at $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Synopsys during the 2nd quarter worth $747,400,000. Bank of New York Mellon Corp acquired a new position in Synopsys in the 2nd quarter worth about $692,074,000. Bank of America Corp DE acquired a new position in Synopsys in the 2nd quarter worth about $539,986,000. Finally, Legal & General Group Plc acquired a new position in Synopsys in the 2nd quarter worth about $491,923,000. Institutional investors own 85.47% of the company's stock.
Insider Activity
In other Synopsys news, insider Aart de Geus sold 24,641 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $419.44, for a total transaction of $10,335,421.04. Following the completion of the sale, the insider directly owned 120,443 shares in the company, valued at approximately $50,518,611.92. This trade represents a 16.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Lee sold 1,144 shares of the stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $502.52, for a total value of $574,882.88. Following the sale, the insider owned 16,534 shares of the company's stock, valued at approximately $8,308,665.68. The trade was a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 117,163 shares of company stock worth $51,366,457. 0.56% of the stock is owned by insiders.
Wall Street Analyst Weigh In
SNPS has been the subject of several research reports. Bank of America increased their target price on Synopsys from $500.00 to $600.00 in a research report on Thursday, October 1st. Sanford C. Bernstein initiated coverage on Synopsys in a report on Friday, September 25th. They set an "outperform" rating on the stock. Morgan Stanley upped their price objective on Synopsys from $500.00 to $574.00 and gave the company an "overweight" rating in a research note on Tuesday. Rothschild & Co Redburn dropped their price objective on shares of Synopsys from $560.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 23rd. Finally, UBS Group set a $570.00 price objective on shares of Synopsys in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $575.00.
Read Our Latest Stock Report on Synopsys
Synopsys Stock Performance
Shares of SNPS stock opened at $447.62 on Wednesday. The stock has a market capitalization of $85.78 billion, a PE ratio of 46.20, a PEG ratio of 1.85 and a beta of 1.21. The business's 50 day simple moving average is $429.16 and its 200 day simple moving average is $442.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.24. Synopsys, Inc. has a one year low of $362.55 and a one year high of $539.48.
Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $3.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.24. Synopsys had a net margin of 11.43% and a return on equity of 6.24%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company earned $3.39 EPS. The company's revenue for the quarter was up 42.4% on a year-over-year basis. Synopsys has set its Q4 2026 guidance at 4.100-4.160 EPS and its FY 2026 guidance at 15.040-15.100 EPS. As a group, research analysts forecast that Synopsys, Inc. will post 10.97 earnings per share for the current year.
Synopsys announced that its Board of Directors has approved a stock repurchase plan on Monday, October 5th that allows the company to buy back $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 1.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
About Synopsys
(
Free Report)
Synopsys, Inc is an electronic design automation (EDA) and semiconductor intellectual property company serving the global semiconductor and electronics industries. Its software helps engineers design, verify, test and manufacture advanced integrated circuits and electronic systems.
The company's products and services support digital and analog design, functional verification, design-for-test, manufacturing and semiconductor engineering workflows. Synopsys also provides reusable semiconductor IP, including processor cores, interface technologies, security solutions and other components used in system-on-chip designs.
In addition to its semiconductor design offerings, Synopsys provides software development and application security tools intended to help organizations identify and manage vulnerabilities and risks across the software development lifecycle.
Further Reading
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