Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp increased its stock holdings in Synopsys, Inc. by 14.4% in the first quarter, raising its total to 6,532 shares valued at approximately $2.8 million.
• Multiple financial institutions have also raised their stakes in Synopsys, with notable increases from Brighton Jones LLC and Westpac Banking Corp, indicating strong institutional interest.
• Several brokerages have issued positive ratings and increased price targets for Synopsys, with a consensus rating of "Moderate Buy" and a price target of $622.33, highlighting bullish sentiment among analysts.

UNIVEST FINANCIAL Corp increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,532 shares of the semiconductor company's stock after purchasing an additional 820 shares during the period. UNIVEST FINANCIAL Corp's holdings in Synopsys were worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Capital World Investors increased its holdings in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after buying an additional 1,045,326 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. raised its position in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Synopsys by 12.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock valued at $820,987,000 after purchasing an additional 182,115 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

SNPS traded up $17.37 on Monday, reaching $636.02. 1,121,251 shares of the stock were exchanged, compared to its average volume of 1,456,877. The company's 50-day moving average price is $529.64 and its 200 day moving average price is $491.19. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. 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 market capitalization of $98.68 billion, a PE ratio of 45.92, a PEG ratio of 4.09 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNPS shares. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities increased their price target on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Needham & Company LLC restated a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

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.