Temasek Holdings Private Ltd Reduces Position in Synopsys, Inc. $SNPS

Key Points

• Temasek Holdings has reduced its stake in Synopsys, Inc. by 83.0% after selling 56,352 shares, leaving the firm with 11,562 shares valued at approximately $4.96 million.
• Significant increases in holdings of Synopsys shares were observed among other investors, including North Star Asset Management and SlateStone Wealth LLC, showcasing growing interest from institutional investors.
• Analysts maintain a positive outlook for Synopsys, with several firms raising price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of approximately $638.21.

Temasek Holdings Private Ltd trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 83.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,562 shares of the semiconductor company's stock after selling 56,352 shares during the quarter. Temasek Holdings Private Ltd's holdings in Synopsys were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the fourth quarter valued at $29,000. Cornerstone Planning Group LLC lifted its position in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares during the period. Saudi Central Bank acquired a new position in Synopsys during the first quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares during the period. Finally, WPG Advisers LLC acquired a new position in Synopsys during the first quarter valued at $34,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated 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 owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The sale was disclosed in a legal 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 Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the sale, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,031 shares of company stock worth $13,168,999 in the last 90 days. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday. Piper Sandler decreased their target price on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a research report on Wednesday. Baird R W downgraded shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Mizuho decreased their target price on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Stifel Nicolaus decreased their target price on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $585.33.

Synopsys Price Performance

Shares of SNPS traded up $50.32 during mid-day trading on Thursday, hitting $438.10. 15,218,795 shares of the company were exchanged, compared to its average volume of 1,603,281. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The company has a 50 day moving average of $594.99 and a 200-day moving average of $506.99. The stock has a market cap of $67.98 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14.

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.