Generate Investment Management Ltd Invests $23.93 Million in Synopsys, Inc. (NASDAQ:SNPS)

Generate Investment Management Ltd bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 55,788 shares of the semiconductor company's stock, valued at approximately $23,925,000. Synopsys accounts for about 1.7% of Generate Investment Management Ltd's holdings, making the stock its 14th largest holding.

A number of other large investors also recently made changes to their positions in SNPS. Vanguard Group Inc. increased its stake in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors grew its holdings in shares of Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC increased its stake in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after buying an additional 391,681 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

SNPS traded up $8.29 during midday trading on Wednesday, reaching $487.27. The company had a trading volume of 867,874 shares, compared to its average volume of 1,154,609. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The business has a 50-day moving average price of $474.47 and a two-hundred day moving average price of $477.62. The stock has a market cap of $75.61 billion, a PE ratio of 35.18, a P/E/G ratio of 3.11 and a beta of 1.11. 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 quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. On average, sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive now owns 1,485 shares of the company's stock, valued at $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. In the last three months, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNPS. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Bank of America reduced their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities lowered their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $607.14.

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.