Swiss National Bank Purchases 2,000 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• The Swiss National Bank recently increased its ownership in Synopsys, Inc. by 0.5%, bringing its total shares to 436,000, valued at approximately $186.98 million.
• Other institutional investors, including GAMMA Investing LLC and Price T Rowe Associates, made significant increases in their stakes in Synopsys, indicating strong investor interest in the company.
• Synopsys reported quarterly earnings of $3.67 per share, exceeding analyst estimates, and its revenue has risen by 10.3% compared to the same period last year.

Swiss National Bank grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,000 shares of the semiconductor company's stock after acquiring an additional 2,000 shares during the period. Swiss National Bank owned 0.28% of Synopsys worth $186,979,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC raised its position in shares of Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $36,000. Meeder Asset Management Inc. raised its position in shares of Synopsys by 33.3% in the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock valued at $45,000 after buying an additional 26 shares in the last quarter. Finally, GoalVest Advisory LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $50,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.1%

Shares of Synopsys stock traded down $0.91 during trading on Friday, hitting $619.42. The company's stock had a trading volume of 700,625 shares, compared to its average volume of 2,441,283. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The stock has a market cap of $96.11 billion, a price-to-earnings ratio of 44.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.15. The stock has a 50-day moving average price of $544.48 and a two-hundred day moving average price of $494.35.

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 for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $3.00 EPS. The business's revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. Piper Sandler boosted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Bank of America boosted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One 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, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $622.33.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by corporate insiders.

About Synopsys

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.