OMERS ADMINISTRATION Corp Grows Stake in Synopsys, Inc. $SNPS

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Synopsys, Inc. by 17.3%, owning a total of 364,322 shares valued at approximately $156.2 million, making it the firm's 21st largest position.
• Insider sales included CFO Shelagh Glaser and CRO Richard S. Mahoney, who sold a combined total of 16,320 shares, indicating a significant decrease in their ownership positions.
• Synopsys reported a quarterly earnings beat with $3.67 EPS, exceeding analyst expectations of $3.40, and announced an expected 10.64 EPS for the current fiscal year.

OMERS ADMINISTRATION Corp lifted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 364,322 shares of the semiconductor company's stock after purchasing an additional 53,706 shares during the quarter. Synopsys makes up 1.4% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 21st biggest holding. OMERS ADMINISTRATION Corp owned about 0.24% of Synopsys worth $156,239,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SNPS. GAMMA Investing LLC boosted its position in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares during the period. Nuveen LLC acquired a new stake in shares of Synopsys in the 1st quarter valued at about $341,480,000. Pictet Asset Management Holding SA boosted its position in shares of Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after purchasing an additional 673,837 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after purchasing an additional 346,994 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm'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. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Bank of America upped their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Rosenblatt Securities upped their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. KeyCorp upped their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company reaffirmed a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $634.64.

Synopsys Stock Performance

Shares of SNPS stock traded down $8.65 during trading hours on Monday, reaching $603.52. 992,830 shares of the company's stock were exchanged, compared to its average volume of 1,034,112. The company has a market cap of $93.64 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. The company's 50 day moving average is $583.07 and its two-hundred day moving average is $503.25. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

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.