Mediolanum International Funds Ltd Acquires 10,149 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Mediolanum International Funds Ltd increased its stake in Synopsys, Inc. by 48% during the first quarter, acquiring an additional 10,149 shares for a total of 31,284 shares valued at approximately $13.7 million.
• Institutional ownership in Synopsys is significant, with 85.47% of the stock owned by hedge funds and other institutional investors, including notable increases from companies like GAMMA Investing LLC and Price T Rowe Associates Inc.
• Analysts have raised their price targets for Synopsys, with Piper Sandler increasing it to $660.00, reflecting a positive outlook and a consensus rating of "Moderate Buy" for the stock.

Mediolanum International Funds Ltd grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 48.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,284 shares of the semiconductor company's stock after purchasing an additional 10,149 shares during the period. Mediolanum International Funds Ltd's holdings in Synopsys were worth $13,701,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Prossimo Advisors LLC raised its stake in shares of Synopsys by 10.3% during the first quarter. Prossimo Advisors LLC now owns 1,770 shares of the semiconductor company's stock valued at $759,000 after purchasing an additional 165 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Synopsys by 2.9% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 100,815 shares of the semiconductor company's stock valued at $43,230,000 after purchasing an additional 2,886 shares during the period. Stevens Capital Management LP raised its stake in shares of Synopsys by 109.1% during the first quarter. Stevens Capital Management LP now owns 1,052 shares of the semiconductor company's stock valued at $451,000 after purchasing an additional 549 shares during the period. Prescott Group Capital Management L.L.C. raised its stake in shares of Synopsys by 23.9% during the first quarter. Prescott Group Capital Management L.L.C. now owns 3,097 shares of the semiconductor company's stock valued at $1,328,000 after purchasing an additional 597 shares during the period. Finally, Baillie Gifford & Co. purchased a new stake in shares of Synopsys during the first quarter valued at approximately $9,939,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $660.00 price target (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Finally, Rosenblatt Securities boosted their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $622.33.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the 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 transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by insiders.

Synopsys Trading Up 1.9%

Shares of Synopsys stock traded up $12.12 during trading on Wednesday, hitting $647.93. 674,166 shares of the company were exchanged, compared to its average volume of 1,452,759. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $647.20. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The firm has a market capitalization of $100.53 billion, a P/E ratio of 46.70, a price-to-earnings-growth ratio of 3.92 and a beta of 1.12. The firm's fifty day moving average price is $521.77 and its 200 day moving average price is $488.50.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 EPS. As a group, sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal 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.