Canada Pension Plan Investment Board Has $22.75 Million Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Synopsys, Inc. by 18.1%, now owning 53,039 shares valued at approximately $22.75 million.
• Numerous institutional investors, such as Parnassus Investments and OMERS ADMINISTRATION Corp, have also boosted their stakes, indicating strong interest in Synopsys.
• Analyst ratings for Synopsys remain positive, with multiple firms setting new price targets, including a consensus target of $634.64 among twelve analysts.

Canada Pension Plan Investment Board increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,039 shares of the semiconductor company's stock after buying an additional 8,130 shares during the quarter. Canada Pension Plan Investment Board's holdings in Synopsys were worth $22,746,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Parnassus Investments LLC boosted its holdings in Synopsys by 15.5% during the first quarter. Parnassus Investments LLC now owns 1,363,310 shares of the semiconductor company's stock valued at $584,655,000 after purchasing an additional 182,642 shares in the last quarter. WPG Advisers LLC acquired a new stake in Synopsys during the first quarter valued at approximately $34,000. Landscape Capital Management L.L.C. acquired a new stake in Synopsys during the first quarter valued at approximately $1,450,000. OMERS ADMINISTRATION Corp boosted its holdings in Synopsys by 17.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 364,322 shares of the semiconductor company's stock valued at $156,239,000 after purchasing an additional 53,706 shares in the last quarter. Finally, Coalescence Partners Investment Management LP boosted its holdings in Synopsys by 116.1% during the first quarter. Coalescence Partners Investment Management LP now owns 47,053 shares of the semiconductor company's stock valued at $20,179,000 after purchasing an additional 25,276 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ:SNPS opened at $603.52 on Monday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm has a 50 day moving average of $583.07 and a 200-day moving average of $503.25. 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 stock has a market capitalization of $93.64 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNPS. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Wells Fargo & Company reaffirmed a "positive" rating on shares of Synopsys in a report on Wednesday. Bank of America lifted their target price on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $715.00 target price (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average target price of $634.64.

Synopsys 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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