Synopsys, Inc. $SNPS Shares Purchased by Thematics Asset Management

Key Points

• Thematics Asset Management has increased its stake in Synopsys, Inc., now owning 154,664 shares valued at approximately $66.33 million, making Synopsys its second-largest holding.
• CEO Sassine Ghazi sold 11,366 shares of Synopsys stock on June 2, resulting in a 13.70% decrease in his ownership, alongside other executives selling a total of 27,686 shares in the past 90 days.
• Synopsys recently reported a 10.3% revenue growth year-over-year, with earnings per share of $3.67, significantly above analysts' expectations of $3.40.

Thematics Asset Management boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,664 shares of the semiconductor company's stock after purchasing an additional 13,700 shares during the period. Synopsys accounts for approximately 3.4% of Thematics Asset Management's portfolio, making the stock its 2nd biggest position. Thematics Asset Management owned about 0.10% of Synopsys worth $66,328,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after purchasing an additional 50 shares during the period. XTX Topco Ltd acquired a new position in Synopsys during the fourth quarter worth $228,000. Voya Investment Management LLC lifted its holdings in Synopsys by 13.7% during the 4th quarter. Voya Investment Management LLC now owns 48,207 shares of the semiconductor company's stock valued at $23,398,000 after purchasing an additional 5,805 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Synopsys during the 4th quarter worth approximately $1,518,000. Finally, Capital Analysts LLC increased its holdings in Synopsys by 4.4% during the 4th quarter. Capital Analysts LLC now owns 6,717 shares of the semiconductor company's stock valued at $3,260,000 after purchasing an additional 285 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Up 1.5%

NASDAQ:SNPS traded up $9.00 during mid-day trading on Thursday, hitting $612.17. The company had a trading volume of 901,863 shares, compared to its average volume of 1,410,185. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The firm has a market cap of $94.98 billion, a P/E ratio of 44.20, a P/E/G ratio of 3.92 and a beta of 1.15. The business's fifty day moving average is $577.64 and its two-hundred day moving average is $502.39.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%.Synopsys's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.00 EPS. As a group, research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNPS shares. Bank of America increased their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Morgan Stanley restated an "overweight" rating and issued a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research report on Monday, August 11th. KeyCorp upped their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Finally, Piper Sandler boosted 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. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $634.64.

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.