PGGM Investments Boosts Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• PGGM Investments increased its stake in Synopsys, Inc. by 124.3% during Q2, owning a total of 133,394 shares valued at approximately $68.4 million.
• Analysts have adjusted their price targets for Synopsys, with estimates ranging from $550 to $670, while the stock currently holds a consensus rating of "Hold".
• Insider selling activity has been noted, with the CAO and CFO collectively selling over 13,500 shares of stock in recent transactions.

PGGM Investments grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 124.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,394 shares of the semiconductor company's stock after buying an additional 73,929 shares during the quarter. PGGM Investments owned 0.09% of Synopsys worth $68,388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SNPS. Nuveen LLC purchased a new stake in shares of Synopsys during the first quarter valued at approximately $341,480,000. Pictet Asset Management Holding SA boosted its holdings in Synopsys by 38.3% in 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 during the last quarter. Generation Investment Management LLP purchased a new stake in Synopsys in the first quarter worth approximately $240,491,000. Vanguard Group Inc. boosted its holdings in Synopsys by 2.4% in 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 during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Synopsys by 22.2% in 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 during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNPS. Robert W. Baird restated a "neutral" rating and issued a $535.00 target price (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Wells Fargo & Company dropped their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 10th. KeyCorp dropped their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $585.33.

Insider Activity

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the sale, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. This trade represents a 32.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the sale, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,894 shares of company stock valued at $16,760,783 over the last 90 days. Company insiders own 0.62% of the company's stock.

Synopsys Stock Up 2.4%

Shares of SNPS stock opened at $493.39 on Wednesday. The company has a market capitalization of $91.65 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 5.31 and a beta of 1.14. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company's fifty day moving average price is $567.08 and its 200-day moving average price is $509.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51.

Synopsys Company 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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