Mirae Asset Global Investments Co. Ltd. Boosts Position in Synopsys, Inc. $SNPS

Key Points

• Mirae Asset Global Investments increased its stake in Synopsys, Inc. by 1.7%, owning approximately 178,786 shares worth $91.66 million at the end of the second quarter.
• A number of institutional investors, including Vanguard Group and Pictet Asset Management, have also recently boosted their positions in Synopsys, indicating strong institutional interest in the company.
• Analyst price targets for Synopsys have been adjusted downward, with ratings varying from "buy" to "strong sell," reflecting a more cautious outlook for the stock amidst fluctuating performance.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 178,786 shares of the semiconductor company's stock after purchasing an additional 2,991 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of Synopsys worth $91,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Synopsys by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after purchasing an additional 346,994 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Synopsys by 6.6% during the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock worth $863,500,000 after purchasing an additional 125,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Synopsys by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company's stock worth $778,928,000 after purchasing an additional 305,489 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company's stock worth $739,857,000 after purchasing an additional 313,218 shares in the last quarter. 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 3,655 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the sale, the chief financial officer owned 15,317 shares of the company's stock, valued at $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert G. Painter bought 350 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $425.44 per share, with a total value of $148,904.00. Following the transaction, the director directly owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 30,894 shares of company stock valued at $16,760,783. Insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Synopsys stock opened at $471.14 on Friday. The firm has a market capitalization of $87.51 billion, a P/E ratio of 36.98, a PEG ratio of 5.39 and a beta of 1.10. 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 stock has a fifty day moving average price of $561.80 and a 200 day moving average price of $509.25. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNPS shares. Needham & Company LLC cut their price target on Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Robert W. Baird reissued a "neutral" rating and issued a $535.00 price target (down from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Morgan Stanley cut their price target on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a report on Thursday, September 11th. Stifel Nicolaus cut their price target on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Finally, Zacks Research cut Synopsys from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $575.31.

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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