Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by National Pension Service

Key Points

• The National Pension Service increased its holdings in Synopsys, Inc. by 7.8%, now owning approximately 0.23% of the company's stock valued at $154.3 million.
• Synopsys reported $3.67 EPS for the latest quarter, surpassing analysts' expectations of $3.40, with a revenue of $1.60 billion, a 10.3% increase from the previous year.
• A significant percentage of Synopsys stock, 85.47%, is currently owned by institutional investors and hedge funds, reflecting strong investor interest in the company.

National Pension Service lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,810 shares of the semiconductor company's stock after buying an additional 25,898 shares during the period. National Pension Service owned approximately 0.23% of Synopsys worth $154,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Capital Management LLC increased its holdings in Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 19 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares in the last quarter. Hardy Reed LLC increased 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 purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC increased its holdings in Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 22 shares in the last quarter. Finally, Trust Asset Management LLC increased its holdings in Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock valued at $757,000 after purchasing an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS stock opened at $618.57 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company's 50-day simple moving average is $553.58 and its 200-day simple moving average is $496.59. The stock has a market capitalization of $95.98 billion, a price-to-earnings ratio of 44.66, a PEG ratio of 4.14 and a beta of 1.15.

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

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the firm'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 transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly 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 90 days, insiders have sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Piper Sandler increased their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $715.00 price objective (up from $540.00) on shares of Synopsys in a research report on Monday. Bank of America upped 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 upped 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, Needham & Company LLC reissued a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $630.67.

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.

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