Voya Investment Management LLC Grows Position in Synopsys, Inc. $SNPS

Key Points

• Voya Investment Management LLC increased its holdings in Synopsys, Inc. by 23.4% in the first quarter, owning a total of 59,467 shares valued at $25.5 million.
• Analysts have shown mixed sentiments, with some lowering their price targets while the general consensus remains a "Moderate Buy" with a target price of $585.33.
• Insider trading activity includes the CFO and CEO selling shares, with a reported decrease in their holdings of 19.27% and 13.70%, respectively.

Voya Investment Management LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,467 shares of the semiconductor company's stock after acquiring an additional 11,260 shares during the quarter. Voya Investment Management LLC's holdings in Synopsys were worth $25,502,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SNPS. GAMMA Investing LLC lifted its stake in Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after acquiring an additional 1,194,292 shares during the period. Nuveen LLC purchased a new stake in Synopsys in the first quarter worth about $341,480,000. Pictet Asset Management Holding SA lifted its position in shares of 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 buying an additional 673,837 shares during the last quarter. Generation Investment Management LLP purchased a new stake in shares of Synopsys during the first quarter valued at about $240,491,000. Finally, Vanguard Group Inc. lifted its position in shares of Synopsys by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after buying an additional 346,994 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several analyst reports. KeyCorp decreased their price target on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday. Mizuho decreased their price target on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Baird R W lowered shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $585.33.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the transaction, the chief financial officer owned 15,317 shares in the company, valued at approximately $9,339,847.09. This represents a 19.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's 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 sale, the chief executive officer directly owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,031 shares of company stock worth $13,168,999. 0.62% of the stock is owned by company insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $425.45 on Monday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company's 50 day moving average is $590.39 and its 200 day moving average is $507.16. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The company has a market cap of $79.03 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14.

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.

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