ASR Vermogensbeheer N.V. Takes $9.61 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Synopsys, Inc., purchasing 22,419 shares valued at approximately $9.61 million during the first quarter.
• Synopsys has reported earnings per share of $3.67 for the last quarter, surpassing estimates by $0.27, while its revenue reached $1.60 billion.
• Major investment banks have issued positive ratings for Synopsys, with price targets from $620.00 to $660.00, reflecting overall market confidence in the company's future prospects.

ASR Vermogensbeheer N.V. bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,419 shares of the semiconductor company's stock, valued at approximately $9,614,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its stake in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares during the period. Cloud Capital Management LLC acquired a new position in Synopsys in the first quarter valued at approximately $36,000. Meeder Asset Management Inc. boosted its holdings in shares of 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 buying an additional 26 shares in the last quarter. Finally, GoalVest Advisory LLC bought a new stake in shares of Synopsys in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 0.4%

Shares of SNPS opened at $625.88 on Thursday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The business has a 50-day moving average of $537.99 and a 200 day moving average of $493.82. The firm has a market cap of $97.11 billion, a P/E ratio of 45.19, a price-to-earnings-growth ratio of 4.16 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

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

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 in the last 90 days. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Piper Sandler increased their price target on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. KeyCorp raised their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Rosenblatt Securities upped their target price on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $622.33.

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.

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