KLP Kapitalforvaltning AS Buys 2,700 Shares of Synopsys, Inc. $SNPS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Synopsys, Inc. by 4.8%, acquiring an additional 2,700 shares, bringing its total holdings to 58,990 shares valued at approximately $30.24 million.
• In recent insider activity, Synopsys Director Robert G. Painter purchased 350 shares for $148,904, while CEO Sassine Ghazi sold 11,366 shares worth about $6.69 million.
• Numerous analysts have recently adjusted their price targets for Synopsys, with estimates now ranging from $510 to $605, indicating a mixed outlook among market experts.

KLP Kapitalforvaltning AS boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,990 shares of the semiconductor company's stock after acquiring an additional 2,700 shares during the period. KLP Kapitalforvaltning AS's holdings in Synopsys were worth $30,243,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SNPS. Brighton Jones LLC boosted its holdings in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after buying an additional 50 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Synopsys by 25.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company's stock valued at $232,000 after buying an additional 111 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Synopsys by 9.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,899 shares of the semiconductor company's stock valued at $828,000 after buying an additional 158 shares in the last quarter. Tounjian Advisory Partners LLC bought a new stake in shares of Synopsys during the 1st quarter valued at $547,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Synopsys by 92.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,260 shares of the semiconductor company's stock valued at $1,398,000 after buying an additional 1,569 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other Synopsys news, Director Robert G. Painter bought 350 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, with a total value of $148,904.00. Following the transaction, the director owned 2,291 shares in the company, valued at $974,683.04. This represents a 18.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's 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 transaction, 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. Insiders sold a total of 30,894 shares of company stock worth $16,760,783 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

SNPS opened at $477.83 on Wednesday. The stock has a 50-day moving average price of $553.70 and a 200-day moving average price of $510.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The firm has a market cap of $88.76 billion, a PE ratio of 37.51, a P/E/G ratio of 5.27 and a beta of 1.10. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73.

Analysts Set New Price Targets

SNPS has been the topic of a number of research reports. Rosenblatt Securities restated a "neutral" rating and set a $605.00 target price (down previously from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Wells Fargo & Company dropped their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 10th. Needham & Company LLC dropped their target price on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group lowered their price target on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley lowered their price target on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $575.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.