The Manufacturers Life Insurance Company Raises Stake in Synopsys, Inc. $SNPS

Key Points

• The Manufacturers Life Insurance Company increased its stake in Synopsys, Inc. by 2.8%, acquiring an additional 3,704 shares and holding a total of 137,382 shares valued at approximately $58.9 million.
• Several institutional investors, including GAMMA Investing LLC and Pictet Asset Management Holding SA, have significantly increased their investments in Synopsys, with GAMMA raising its position by 54,286%.
• Analysts are optimistic about Synopsys, with multiple firms raising their price targets, including Piper Sandler and Needham, leading to an average target price of $634.64 and a consensus rating of "Moderate Buy."

The Manufacturers Life Insurance Company grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,382 shares of the semiconductor company's stock after purchasing an additional 3,704 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Synopsys worth $58,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SNPS. Brighton Jones LLC increased its holdings in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 50 shares during the period. Aristotle Capital Management LLC bought a new stake in Synopsys during the 4th quarter worth approximately $6,935,000. Aptus Capital Advisors LLC increased its holdings in Synopsys by 58.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 2,288 shares of the semiconductor company's stock worth $1,111,000 after acquiring an additional 841 shares during the period. Ameriprise Financial Inc. increased its holdings in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the period. Finally, BNP Paribas increased its holdings in Synopsys by 54.4% during the 4th quarter. BNP Paribas now owns 32,010 shares of the semiconductor company's stock worth $15,537,000 after acquiring an additional 11,274 shares during the period. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction 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 owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys 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 sale, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on SNPS. Morgan Stanley reissued an "overweight" rating and issued a $715.00 price target (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Rosenblatt Securities boosted their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Bank of America boosted their price target on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $660.00 price target (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $634.64.

Synopsys Trading Down 1.9%

SNPS traded down $11.51 during trading on Tuesday, hitting $592.01. 1,388,123 shares of the stock traded hands, compared to its average volume of 978,028. The firm has a market capitalization of $91.86 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The firm has a 50-day moving average of $587.98 and a 200 day moving average of $504.43. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

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.