Pictet Asset Management Holding SA Has $1.04 Billion Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Pictet Asset Management Holding SA lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,432,596 shares of the semiconductor company's stock after buying an additional 673,837 shares during the period. Synopsys comprises about 1.2% of Pictet Asset Management Holding SA's investment portfolio, making the stock its 12th largest holding. Pictet Asset Management Holding SA owned 1.57% of Synopsys worth $1,043,518,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors raised its stake in Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after buying an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares during the period. Geode Capital Management LLC raised its stake in Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research analyst reports. 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. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. 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. Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Rosenblatt Securities dropped their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $617.67.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction 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 sale, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $4.25 during trading hours on Friday, reaching $584.76. 3,682,314 shares of the stock were exchanged, compared to its average volume of 1,268,585. The firm has a market capitalization of $90.73 billion, a price-to-earnings ratio of 42.22, a P/E/G ratio of 3.90 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $600.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock's fifty day simple moving average is $508.54 and its 200 day simple moving average is $482.97.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. Sell-side analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

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.