Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,925 shares of the semiconductor company's stock after purchasing an additional 1,834 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Synopsys were worth $19,266,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNPS. Brighton Jones LLC grew its stake in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares in the last quarter. SVB Wealth LLC purchased a new position in Synopsys in the fourth quarter valued at about $372,000. Fisher Asset Management LLC boosted its holdings in Synopsys by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 12,643 shares of the semiconductor company's stock valued at $6,137,000 after purchasing an additional 122 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Synopsys by 3.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,148 shares of the semiconductor company's stock valued at $1,046,000 after purchasing an additional 74 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Synopsys by 17.4% during the 4th quarter. Jones Financial Companies Lllp now owns 5,213 shares of the semiconductor company's stock worth $2,530,000 after purchasing an additional 772 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Richard S. Mahoney sold 9,010 shares of the 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 in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,686 shares of company stock valued at $13,001,048. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. KeyCorp set a $540.00 price objective on shares of Synopsys in a report on Tuesday, June 3rd. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Finally, Rosenblatt Securities decreased their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Stock Up 2.0%

Shares of Synopsys stock opened at $512.68 on Tuesday. The stock has a market capitalization of $79.55 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 3.32 and a beta of 1.11. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The business's 50 day simple moving average is $481.54 and its 200-day simple moving average is $477.13.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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 analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 EPS. Equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.

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