iA Global Asset Management Inc. Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• iA Global Asset Management Inc. has increased its stake in Synopsys, Inc. by 2.2%, now holding 32,660 shares worth approximately $14 million.
• Institutional investors own 85.47% of Synopsys' stock, with significant recent increases in holdings by companies like GAMMA Investing LLC and Price T Rowe Associates Inc..
• Synopsys reported a $3.67 EPS for the last quarter, surpassing analysts' expectations, and its stock is currently rated as a "Moderate Buy" with an average price target of $622.33.

iA Global Asset Management Inc. raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,660 shares of the semiconductor company's stock after buying an additional 713 shares during the quarter. iA Global Asset Management Inc.'s holdings in Synopsys were worth $14,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. GAMMA Investing LLC raised its stake in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after buying an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the period. Capital Research Global Investors bought a new position in shares of Synopsys during the 4th quarter valued at about $239,864,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The shares were 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 approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. 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. KeyCorp increased their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Finally, The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $622.33.

Synopsys Price Performance

SNPS traded down $5.55 on Thursday, reaching $620.33. The stock had a trading volume of 1,428,622 shares, compared to its average volume of 2,491,507. The company has a market capitalization of $96.25 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 4.14 and a beta of 1.15. 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 firm has a 50-day moving average of $541.30 and a 200-day moving average of $494.47. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73.

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

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.