Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,100 shares of the semiconductor company's stock after buying an additional 1,313 shares during the quarter. Jennison Associates LLC's holdings in Synopsys were worth $6,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. Norges Bank acquired a new position in shares of Synopsys in the 4th quarter valued at about $583,608,000. GAMMA Investing LLC increased its stake in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Synopsys by 21.5% in the 4th 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 purchasing an additional 1,045,326 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of Synopsys in the 4th quarter valued at about $239,864,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other Synopsys news, 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 transaction, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer owned 71,589 shares of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 over the last quarter. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNPS. The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Rosenblatt Securities cut their price objective 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 research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $617.67.

Synopsys Trading Down 0.7%

Shares of SNPS opened at $584.76 on Monday. The stock has a market cap of $90.73 billion, a price-to-earnings ratio of 42.22, a price-to-earnings-growth ratio of 3.87 and a beta of 1.12. 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 1-year low of $365.74 and a 1-year high of $600.90. The firm has a 50 day simple moving average of $508.54 and a 200-day simple moving average of $482.95.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 EPS. Equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal 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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