OMERS ADMINISTRATION Corp Takes $4.31 Million Position in Synopsys, Inc. $SNPS

OMERS ADMINISTRATION Corp purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,672 shares of the semiconductor company's stock, valued at approximately $4,314,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sankala Group LLC purchased a new position in Synopsys during the fourth quarter worth about $25,000. Elevation Wealth Partners LLC raised its stake in shares of Synopsys by 96.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 27 shares during the period. IMG Wealth Management Inc. acquired a new position in shares of Synopsys in the 2nd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Synopsys in the 4th quarter worth approximately $28,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Synopsys during the 4th quarter worth approximately $32,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Shelagh Glaser sold 3,394 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the completion of the transaction, the chief financial officer directly owned 14,358 shares of the company's stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $458.96, for a total value of $6,702,192.88. Following the transaction, the chief executive officer directly owned 75,020 shares of the company's stock, valued at $34,431,179.20. The trade was a 16.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SNPS shares. Citigroup lifted their target price on shares of Synopsys from $600.00 to $610.00 and gave the company a "buy" rating in a report on Thursday, May 28th. BNP Paribas Exane raised their price target on Synopsys from $425.00 to $450.00 and gave the stock an "underperform" rating in a research report on Thursday, May 28th. Zacks Research cut Synopsys from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Bank of America boosted their price objective on Synopsys from $515.00 to $600.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company decreased their target price on Synopsys from $535.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $563.59.

Synopsys Price Performance

Shares of SNPS opened at $408.79 on Wednesday. The company has a market cap of $78.28 billion, a P/E ratio of 94.63, a PEG ratio of 2.32 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $366.00 and a fifty-two week high of $615.79. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average price is $417.74 and its 200 day moving average price is $439.85.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.15 by $0.20. The company had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.25 billion. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The firm's revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 EPS. On average, research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

About Synopsys

Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.

In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.

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