Swedbank AB Has $674.13 Million Position in Synopsys, Inc. $SNPS

Key Points

• Swedbank AB increased its stake in Synopsys, Inc. by 1.1%, owning approximately 1.31 million shares valued at around $674 million, making it their 23rd biggest position.
• CEO Sassine Ghazi sold 11,366 shares of Synopsys stock at an average price of $589.01, resulting in a 13.70% decrease in his ownership.
• Analysts have mixed ratings on Synopsys, with upgrades and downgrades leading to an average rating of "Hold" and a consensus target price of $585.33.

Swedbank AB increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,314,907 shares of the semiconductor company's stock after acquiring an additional 13,957 shares during the quarter. Synopsys comprises approximately 0.8% of Swedbank AB's investment portfolio, making the stock its 23rd biggest holding. Swedbank AB owned about 0.85% of Synopsys worth $674,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Alecta Tjanstepension Omsesidigt lifted its stake in Synopsys by 15.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 331,000 shares of the semiconductor company's stock valued at $169,677,000 after buying an additional 45,000 shares in the last quarter. Sunflower Bank N.A. lifted its stake in Synopsys by 10.7% in the second quarter. Sunflower Bank N.A. now owns 660 shares of the semiconductor company's stock valued at $338,000 after buying an additional 64 shares in the last quarter. Westbourne Investments Inc. bought a new position in Synopsys in the second quarter valued at approximately $1,505,000. Burr Financial Services LLC lifted its stake in Synopsys by 292.0% in the second quarter. Burr Financial Services LLC now owns 3,128 shares of the semiconductor company's stock valued at $1,604,000 after buying an additional 2,330 shares in the last quarter. Finally, Czech National Bank lifted its stake in Synopsys by 6.4% in the second quarter. Czech National Bank now owns 37,794 shares of the semiconductor company's stock valued at $19,376,000 after buying an additional 2,290 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert G. Painter acquired 350 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was bought 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 of the company's stock, valued at approximately $974,683.04. The trade was a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNPS. Wells Fargo & Company cut their price target on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 10th. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday, September 10th. Rosenblatt Securities reissued a "neutral" rating and issued a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Piper Sandler cut their price objective on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $585.33.

Synopsys Stock Up 3.9%

SNPS traded up $19.29 during trading on Monday, reaching $514.79. 4,773,051 shares of the stock were exchanged, compared to its average volume of 4,077,129. The stock has a market cap of $95.62 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The stock's 50 day moving average price is $579.33 and its two-hundred day moving average price is $507.65. 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 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.