US Bancorp DE Has $47.44 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• US Bancorp DE increased its stake in Synopsys, Inc. by 54.5%, owning 110,630 shares valued at approximately $47.4 million after acquiring an additional 39,042 shares.
• Several institutional investors have also boosted their holdings in Synopsys, with significant increases including a 757.5% growth by World Investment Advisors and a 178.2% growth by Westpac Banking Corp.
• Synopsys reported a quarterly earnings per share (EPS) of $3.67, exceeding analysts' estimates of $3.40, and its revenue for the quarter was $1.60 billion, reflecting a year-over-year increase of 10.3%.

US Bancorp DE boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 54.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,630 shares of the semiconductor company's stock after acquiring an additional 39,042 shares during the period. US Bancorp DE owned approximately 0.07% of Synopsys worth $47,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after purchasing an additional 673,837 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Synopsys by 26.2% during 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 in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Synopsys by 12.1% during 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 in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Up 2.8%

Shares of Synopsys stock traded up $17.37 during trading hours on Monday, reaching $636.02. 1,121,251 shares of the company's stock were exchanged, compared to its average volume of 2,510,272. The company has a 50 day moving average of $529.64 and a two-hundred day moving average of $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 current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $98.68 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.09 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent analyst reports. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. KeyCorp boosted their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. 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. Finally, Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $622.33.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 transaction of $5,204,832.38. Following the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 in the last three months. 0.62% of the stock is currently owned by company insiders.

Synopsys 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.