MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 10,344 Shares of Synopsys, Inc. $SNPS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Synopsys, Inc. by 5.7%, acquiring an additional 10,344 shares to own a total of 190,962 shares worth approximately $81.9 million.
• Significant insider trading was noted, with CEO Sassine Ghazi selling 11,366 shares for around $6.7 million, reducing his ownership in the company by 13.7%.
• Wall Street analysts remain optimistic about Synopsys, with several raising their price targets, leading to a consensus average target price of $638.21 and a rating of "Moderate Buy".

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,962 shares of the semiconductor company's stock after purchasing an additional 10,344 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.12% of Synopsys worth $81,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after buying an additional 44 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of Synopsys during the first quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth $29,000. Finally, WPG Advisers LLC acquired a new stake in shares of Synopsys during the first quarter worth $34,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on 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 owned 71,615 shares of the company's stock, valued at $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Down 0.6%

Shares of NASDAQ SNPS opened at $598.14 on Friday. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market cap of $92.81 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 3.96 and a beta of 1.14. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The stock has a 50-day moving average price of $594.11 and a two-hundred day moving average price of $506.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNPS shares. KeyCorp lifted their target price on Synopsys from $610.00 to $660.00 and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group began coverage on Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 target price for the company. Bank of America boosted their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Needham & Company LLC reaffirmed 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. Finally, Wells Fargo & Company reaffirmed a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $638.21.

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.

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.