IFM Investors Pty Ltd Buys 7,380 Shares of Synopsys, Inc. $SNPS

Key Points

• IFM Investors Pty Ltd increased its holdings in Synopsys, Inc. by 25.4%, owning 36,414 shares valued at $18,669,000 after acquiring an additional 7,380 shares in the second quarter.
• Several analysts have cut their price targets for Synopsys, with Robert W. Baird lowering its target from $670.00 to $535.00, while Wells Fargo decreased theirs from $630.00 to $550.00.
• Institutional investors and hedge funds now hold 85.47% of Synopsys's stock, indicating strong interest from large financial entities.

IFM Investors Pty Ltd raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,414 shares of the semiconductor company's stock after purchasing an additional 7,380 shares during the quarter. IFM Investors Pty Ltd's holdings in Synopsys were worth $18,669,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Synopsys by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after buying an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Synopsys by 6.6% during the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock worth $863,500,000 after buying an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Synopsys by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company's stock worth $778,928,000 after buying an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company's stock worth $739,857,000 after buying an additional 313,218 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other Synopsys news, Director Robert G. Painter acquired 350 shares of the stock in a transaction on Thursday, September 11th. The shares were purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares in the company, valued at approximately $974,683.04. This represents a 18.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the sale, the chief financial officer owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 3.5%

Shares of NASDAQ:SNPS traded down $18.03 during trading on Tuesday, reaching $496.76. The stock had a trading volume of 1,822,106 shares, compared to its average volume of 1,743,370. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The firm's fifty day moving average is $579.33 and its 200 day moving average is $507.65. The stock has a market cap of $92.27 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 5.60 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reissued a "neutral" rating and set a $535.00 price target (down from $670.00) on shares of Synopsys in a research note on Wednesday, September 10th. Needham & Company LLC lowered their target price on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. KeyCorp lowered their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company lowered their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $585.33.

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.