Livforsakringsbolaget Skandia Omsesidigt Has $28.31 Million Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Synopsys, Inc. by 1,386.9%, owning 55,224 shares valued at approximately $28.31 million.
• Institutional investors hold around 85.47% of Synopsys' stock, reflecting strong interest from hedge funds in the semiconductor company.
• A number of analysts have recently downgraded their target prices for Synopsys, with the average consensus target price now set at $585.33.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1,386.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,224 shares of the semiconductor company's stock after buying an additional 51,510 shares during the quarter. Synopsys comprises about 0.0% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 29th largest holding. Livforsakringsbolaget Skandia Omsesidigt's holdings in Synopsys were worth $28,312,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Williams Jones Wealth Management LLC. boosted its stake in shares of Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares during the last quarter. Hardy Reed LLC boosted its stake in shares of Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC boosted its stake in shares of Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 22 shares during the last quarter. Trust Asset Management LLC boosted its stake in shares of Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock valued at $757,000 after purchasing an additional 22 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Synopsys by 10.8% in the 1st quarter. Harbour Investments Inc. now owns 235 shares of the semiconductor company's stock valued at $101,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNPS. Robert W. Baird reiterated a "neutral" rating and set a $535.00 target price (down previously from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. KeyCorp dropped their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Mizuho dropped their target price on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Baird R W downgraded shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a research report on Thursday, September 11th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $585.33.

Synopsys Stock Performance

SNPS opened at $419.20 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The company's fifty day moving average price is $588.04 and its two-hundred day moving average price is $506.89. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a market cap of $77.87 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 5.60 and a beta of 1.14.

Insider Buying and Selling at Synopsys

In other news, Director Robert G. Painter bought 350 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the acquisition, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. This trade represents a 18.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated 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 sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,031 shares of company stock worth $13,168,999. Corporate insiders own 0.62% of the company's stock.

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.

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