Synopsys, Inc. $SNPS Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in Synopsys, Inc. by 9.8%, owning approximately 134,443 shares valued at $53.4 million after selling 14,622 shares.
• Analysts have a consensus rating of "Moderate Buy" for Synopsys, with the average target price set at $626.79, highlighting bullish sentiment with several firms raising their price targets.
• Synopsys reported earnings of $3.67 per share for the last quarter, exceeding expectations and demonstrating a 10.3% year-over-year revenue growth of $1.60 billion.

APG Asset Management N.V. trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,443 shares of the semiconductor company's stock after selling 14,622 shares during the quarter. APG Asset Management N.V. owned approximately 0.09% of Synopsys worth $53,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after acquiring an additional 346,994 shares during the period. Pictet Asset Management Holding SA increased its position 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 period. Ameriprise Financial Inc. increased its position 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 period. Nuveen Asset Management LLC increased its position in shares of Synopsys by 12.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock worth $820,987,000 after buying an additional 182,115 shares during the period. Finally, Northern Trust Corp increased its position in shares of Synopsys by 14.6% during the fourth quarter. Northern Trust Corp now owns 1,639,587 shares of the semiconductor company's stock worth $795,790,000 after buying an additional 209,031 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred 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 $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. The Goldman Sachs Group began coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 target price on the stock. KeyCorp increased their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $634.64.

Synopsys Trading Up 1.5%

Shares of SNPS traded up $9.00 during mid-day trading on Thursday, reaching $612.17. The company's stock had a trading volume of 869,525 shares, compared to its average volume of 1,407,976. 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 52 week low of $365.74 and a 52 week high of $651.73. The company's fifty day moving average price is $577.64 and its two-hundred day moving average price is $502.39. The stock has a market cap of $94.98 billion, a PE ratio of 44.20, a P/E/G ratio of 3.92 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data 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 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $3.00 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Synopsys 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.