Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 286,000 shares of the semiconductor company's stock after acquiring an additional 70,000 shares during the quarter. Alecta Tjanstepension Omsesidigt owned approximately 0.18% of Synopsys worth $122,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its holdings 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 acquiring an additional 44 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Synopsys in the fourth quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the fourth quarter valued at approximately $34,000. Cloud Capital Management LLC bought a new position in shares of Synopsys in the first quarter valued at approximately $36,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on 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 directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNPS. Bank of America raised their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group started coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Finally, KeyCorp upped their price target 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 investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $620.67.

Synopsys Price Performance

Synopsys stock traded up $8.24 during trading hours on Tuesday, reaching $599.70. 905,134 shares of the stock were exchanged, compared to its average volume of 1,273,455. The company has a market cap of $93.05 billion, a P/E ratio of 43.12, a price-to-earnings-growth ratio of 3.87 and a beta of 1.12. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $600.90. The stock has a 50 day moving average of $508.54 and a two-hundred day moving average of $482.95.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the firm earned $3.00 EPS. Synopsys's revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.

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