Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Synopsys, Inc. by 7.5%, acquiring an additional 104,159 shares, bringing its total shares to 1,485,655, valued at approximately $637 million.
• During the same period, several institutional investors, including SlateStone Wealth LLC and Dynamic Advisor Solutions LLC, also raised their holdings significantly, indicating increased interest in the semiconductor firm.
• Insider transactions revealed that CRO Richard S. Mahoney sold 9,010 shares, reducing his position by 85.85%, as Synopsys stock continues to trade near its recent highs.

Invesco Ltd. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,655 shares of the semiconductor company's stock after purchasing an additional 104,159 shares during the period. Invesco Ltd. owned 0.96% of Synopsys worth $637,123,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNPS. North Star Asset Management Inc. lifted its position in Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after buying an additional 2,082 shares during the period. SlateStone Wealth LLC increased its stake in shares of Synopsys by 467.8% during the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after acquiring an additional 8,420 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Synopsys during the 1st quarter worth about $1,000,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after acquiring an additional 655 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Synopsys in the first quarter worth approximately $3,116,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% 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 worth $13,001,048. Company insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.1%

SNPS opened at $619.42 on Friday. The firm has a market cap of $96.11 billion, a P/E ratio of 44.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.15. 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 has a 50 day moving average price of $544.48 and a 200 day moving average price of $494.74. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. KeyCorp increased their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC reissued a "buy" rating and set a $660.00 price target (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Rosenblatt Securities upped their price target on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

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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