FORA Capital LLC Acquires 1,428 Shares of Synopsys, Inc. $SNPS

Key Points

• FORA Capital LLC significantly increased its stake in Synopsys, acquiring 1,428 shares and lifting its holdings by 280.6%, now owning a total of 1,937 shares valued at approximately $831,000.
• Various institutional investors, including Vanguard Group and Pictet Asset Management, have also increased their stakes in Synopsys, indicating strong interest, with institutional ownership now at 85.47% of the company's stock.
• Analysts are bullish on Synopsys, with multiple upgrades to price targets, including Bank of America's increase from $575 to $625 and Piper Sandler's raise to $660, reflecting a consensus average target price of $634.64.

FORA Capital LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 280.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,937 shares of the semiconductor company's stock after buying an additional 1,428 shares during the quarter. FORA Capital LLC's holdings in Synopsys were worth $831,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. North Star Asset Management Inc. increased its holdings in shares of Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after purchasing an additional 2,082 shares during the period. SlateStone Wealth LLC increased its holdings in shares of Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after purchasing an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of Synopsys during the first quarter valued at $1,000,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Synopsys by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after purchasing an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Synopsys during the first quarter valued at $3,116,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 1.4%

NASDAQ:SNPS traded down $8.65 on Monday, hitting $603.52. 992,830 shares of the company's stock traded hands, compared to its average volume of 1,034,112. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. 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 price of $583.07 and a 200-day moving average price of $503.25. The company has a market cap of $93.64 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SNPS shares. Morgan Stanley reaffirmed an "overweight" rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. KeyCorp lifted their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Rosenblatt Securities lifted their price target on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and an average price target of $634.64.

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 stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

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.