IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Synopsys, Inc. by 79.0%, acquiring 486 additional shares to own 1,101 shares valued at approximately $472,000 as of the end of Q1.
• Other institutional investors, such as Capital World Investors and Price T Rowe Associates, also raised their stakes, highlighting a growing interest in Synopsys amidst its 85.47% institutional ownership.
• Analysts maintain a positive outlook for Synopsys, with multiple firms setting target prices between $550.00 and $660.00, and a consensus rating of "Moderate Buy."

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 79.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,101 shares of the semiconductor company's stock after acquiring an additional 486 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Synopsys were worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Capital World Investors grew its stake in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after buying an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Synopsys by 21.5% during the 4th 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 buying an additional 1,045,326 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 worth $916,441,000 after purchasing an additional 391,681 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Synopsys by 12.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock worth $820,987,000 after purchasing an additional 182,115 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction 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 owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Piper Sandler lifted their target price on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Bank of America raised their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, KeyCorp raised their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $622.33.

Synopsys Trading Down 1.2%

Shares of SNPS stock opened at $628.50 on Wednesday. The firm has a 50 day moving average price of $534.72 and a two-hundred day moving average price of $492.91. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $97.52 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 4.21 and a beta of 1.15. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion for 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%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. As a group, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.

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