Flputnam Investment Management Co. Has $10.72 Million Stock Position in Synopsys, Inc. $SNPS

Key Points

• Flputnam Investment Management Co. increased its stake in Synopsys, Inc. by 20.5% in Q1 2023, owning nearly 25,000 shares valued at approximately $10.72 million.
• Multiple institutional investors, including Vanguard Group and Pictet Asset Management, have also boosted their positions, with institutional ownership now at 85.47%.
• Several analysts have raised their price targets on Synopsys stock, with the consensus now around $634.64 and a majority rating it as a "Buy."

Flputnam Investment Management Co. grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,987 shares of the semiconductor company's stock after buying an additional 4,251 shares during the period. Flputnam Investment Management Co.'s holdings in Synopsys were worth $10,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after acquiring an additional 346,994 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after acquiring an additional 673,837 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Synopsys by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock valued at $863,500,000 after acquiring an additional 125,199 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Synopsys by 12.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock valued at $820,987,000 after acquiring an additional 182,115 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its position in Synopsys by 2.4% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,575,732 shares of the semiconductor company's stock valued at $675,753,000 after acquiring an additional 37,149 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated 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 directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective on the stock. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a research report on Wednesday. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $634.64.

Synopsys Stock Down 1.4%

Shares of SNPS stock opened at $603.52 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm's 50-day moving average is $583.07 and its 200-day moving average is $503.25. The stock has a market cap of $93.64 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.

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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