Insight Holdings Group LLC Increases Stake in Synopsys, Inc. $SNPS

Key Points

• Insight Holdings Group LLC increased its stake in Synopsys, Inc. by 735.5%, now owning 63,500 shares valued at approximately $27.2 million.
• Several institutional investors also raised their holdings in Synopsys, which is now owned 85.47% by institutional investors overall.
• Equities analysts have boosted price targets for Synopsys, with an average target price now set at $638.21 and the majority rating the stock as a "buy."

Insight Holdings Group LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 735.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,500 shares of the semiconductor company's stock after purchasing an additional 55,900 shares during the period. Synopsys makes up 2.1% of Insight Holdings Group LLC's investment portfolio, making the stock its 11th largest holding. Insight Holdings Group LLC's holdings in Synopsys were worth $27,232,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank bought a new position in Synopsys during the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 53 shares in the last quarter. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter valued at $29,000. Finally, WPG Advisers LLC bought a new position in Synopsys during the 1st quarter valued at $34,000. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised their price objective on Synopsys from $610.00 to $660.00 and gave the company an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective on the stock. Piper Sandler raised their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Rosenblatt Securities raised their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average price target of $638.21.

Synopsys Stock Performance

Shares of Synopsys stock traded down $3.82 during trading hours on Friday, hitting $598.14. 1,388,613 shares of the company's stock traded hands, compared to its average volume of 1,007,890. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The stock has a market capitalization of $92.81 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 3.93 and a beta of 1.14. The company has a fifty day simple moving average of $594.11 and a 200-day simple moving average of $506.20. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

About Synopsys

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.