Skandinaviska Enskilda Banken AB publ Purchases 2,886 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Synopsys, Inc. by 2.9%, acquiring an additional 2,886 shares, bringing its total to 100,815 shares valued at approximately $43.23 million.
• In recent months, several large investors adjusted their positions in Synopsys, contributing to an institutional ownership of 85.47% of the company's stock.
• Analysts are optimistic about Synopsys, with multiple firms issuing buy ratings and price targets ranging from $610.00 to $660.00, reflecting strong market confidence in the company's growth potential.

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,815 shares of the semiconductor company's stock after purchasing an additional 2,886 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.07% of Synopsys worth $43,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Advisors Capital Management LLC increased its stake in shares of Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Peninsula Wealth LLC increased its stake in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after purchasing an additional 20 shares during the period. Williams Jones Wealth Management LLC. increased its stake in Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after acquiring an additional 22 shares during the period. Finally, Hardy Reed LLC raised its holdings in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated 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 owned 1,485 shares in the company, valued at $699,746.85. This trade 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 worth $13,001,048 in the last 90 days. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNPS shares. The Goldman Sachs Group started coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. KeyCorp lifted their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Rosenblatt Securities lifted their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday. Finally, Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.33.

Synopsys Trading Down 0.8%

Shares of SNPS opened at $609.68 on Friday. The firm has a market cap of $94.60 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 4.07 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $618.49. 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 business's fifty day moving average is $516.09 and its 200-day moving average is $486.19.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share 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 analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 EPS. Equities analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal 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.

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.