Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 133.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,821 shares of the semiconductor company's stock after acquiring an additional 28,516 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Synopsys were worth $21,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Affinity Capital Advisors LLC grew its holdings in shares of Synopsys by 2.1% during the 1st quarter. Affinity Capital Advisors LLC now owns 3,175 shares of the semiconductor company's stock valued at $1,337,000 after acquiring an additional 65 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Synopsys during the 1st quarter valued at $1,000,000. Dohj LLC boosted its holdings in Synopsys by 165.6% in the first quarter. Dohj LLC now owns 4,236 shares of the semiconductor company's stock worth $1,817,000 after purchasing an additional 2,641 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Synopsys in the first quarter worth $126,000. Finally, Capital Investment Services of America Inc. boosted its holdings in Synopsys by 21.7% in the first quarter. Capital Investment Services of America Inc. now owns 7,613 shares of the semiconductor company's stock worth $3,265,000 after purchasing an additional 1,359 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. KeyCorp set a $540.00 price objective on shares of Synopsys in a report on Tuesday, June 3rd. Rosenblatt Securities decreased their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Synopsys Price Performance

SNPS stock opened at $478.86 on Friday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a 50-day moving average of $466.31 and a two-hundred day moving average of $481.37. The stock has a market capitalization of $74.30 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of the company'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 transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

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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