Baillie Gifford & Co. Makes New $9.94 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Baillie Gifford & Co. acquired 23,177 shares of Synopsys, valued at approximately $9,939,000, marking a new position in the semiconductor company during the first quarter.
• Major investors such as Capital World Investors and Pictet Asset Management have also recently increased their stakes in Synopsys, indicating strong institutional interest with 85.47% of the stock owned by institutions.
• Analysts have a consensus average rating of "Moderate Buy" for Synopsys, with a target price estimation of $622.33, reflecting positive sentiment amid varying price objective adjustments from major equities research firms.

Baillie Gifford & Co. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,177 shares of the semiconductor company's stock, valued at approximately $9,939,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Brighton Jones LLC raised its holdings in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after buying an additional 50 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Synopsys by 10.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 257,128 shares of the semiconductor company's stock worth $126,947,000 after acquiring an additional 24,346 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of Synopsys by 19.2% during the fourth quarter. NEOS Investment Management LLC now owns 15,318 shares of the semiconductor company's stock worth $7,435,000 after acquiring an additional 2,470 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Synopsys by 176.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 227 shares of the semiconductor company's stock worth $110,000 after acquiring an additional 145 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Synopsys during the fourth quarter worth about $298,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Rosenblatt Securities boosted 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. Piper Sandler boosted their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. KeyCorp boosted their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $622.33.

Synopsys Trading Up 1.9%

SNPS traded up $12.12 during mid-day trading on Wednesday, hitting $647.93. 674,166 shares of the stock were exchanged, compared to its average volume of 1,452,759. The firm's fifty day moving average is $521.77 and its two-hundred day moving average is $488.50. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $647.20. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market cap of $100.53 billion, a PE ratio of 46.70, a PEG ratio of 3.92 and a beta of 1.12.

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

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was 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 ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company 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.