UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $778.93 Million Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• UBS Asset Management increased its stake in Synopsys, Inc. by 20.2% in the first quarter, bringing its total ownership to approximately 1.17% of the company, valued at $778.93 million.
• Institutional investors and hedge funds collectively own 85.47% of Synopsys stock, highlighting strong institutional interest in the semiconductor company.
• Multiple analysts have recently raised their price targets on Synopsys stock, with an average target of $638.21 and many ratings upgraded to "buy" or "overweight."

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,816,319 shares of the semiconductor company's stock after purchasing an additional 305,489 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.17% of Synopsys worth $778,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. North Star Asset Management Inc. raised its position in Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after buying an additional 2,082 shares during the period. SlateStone Wealth LLC raised its position in Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after buying an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Synopsys during the first quarter valued at $1,000,000. Wealth Enhancement Advisory Services LLC raised its position in Synopsys by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after buying an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Synopsys during the first quarter valued at $3,116,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ SNPS opened at $609.08 on Tuesday. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $596.04 and a 200 day simple moving average of $507.14. The company has a market cap of $94.50 billion, a P/E ratio of 43.98, a P/E/G ratio of 3.93 and a beta of 1.14. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNPS shares. KeyCorp upped their price objective on shares of Synopsys from $610.00 to $660.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Bank of America upped their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Synopsys in a research report on Wednesday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Piper Sandler upped their target price on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average price target of $638.21.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value 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 disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

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.

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