Handelsbanken Fonder AB Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Handelsbanken Fonder AB raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 25.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 286,558 shares of the semiconductor company's stock after buying an additional 57,424 shares during the period. Handelsbanken Fonder AB owned about 0.19% of Synopsys worth $122,890,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Synopsys in the 4th quarter valued at about $583,608,000. GAMMA Investing LLC increased its stake in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after buying an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after buying an additional 1,045,326 shares in the last quarter. Capital Research Global Investors purchased a new stake in Synopsys during the 4th quarter worth approximately $239,864,000. Finally, Raymond James Financial Inc. purchased a new stake in Synopsys during the 4th quarter worth approximately $199,065,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Transactions 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 completion of the sale, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 now owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Synopsys Trading Down 0.7%

Shares of SNPS traded down $3.67 during mid-day trading on Wednesday, hitting $500.73. 1,104,803 shares of the company's stock were exchanged, compared to its average volume of 1,153,089. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The firm has a market capitalization of $77.69 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.11. The business's 50 day moving average is $459.83 and its two-hundred day moving average is $482.68.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results 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. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNPS shares. KeyCorp set a $540.00 price objective on Synopsys in a research note on Tuesday, June 3rd. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and a consensus target price of $607.14.

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.