Wellington Management Group LLP Has $477.15 Million Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• Wellington Management Group LLP increased its stake in Synopsys, Inc. by 5.2%, owning 1,112,628 shares valued at approximately $477.15 million as of the end of the latest quarter.
• Analysts have a positive outlook on Synopsys, with a consensus price target of $630.67 and several firms issuing buy ratings and higher price objectives, with Needham & Company setting a target of $660.00.
• The CEO of Synopsys, Sassine Ghazi, recently sold over 11,000 shares at an average price of $457.93, representing a 13.70% decrease in his holdings.

Wellington Management Group LLP raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,112,628 shares of the semiconductor company's stock after purchasing an additional 54,868 shares during the period. Wellington Management Group LLP owned 0.72% of Synopsys worth $477,151,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after purchasing an additional 346,994 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 1,045,326 shares during the last quarter. Pictet Asset Management Holding SA raised its position in 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 purchasing an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. raised its position in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $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% during the 4th quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock worth $820,987,000 after purchasing an additional 182,115 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. The Goldman Sachs Group initiated coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Finally, Rosenblatt Securities lifted their price objective on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $630.67.

Synopsys Stock Performance

Shares of SNPS opened at $625.33 on Tuesday. 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 stock has a 50-day moving average of $561.49 and a 200-day moving average of $498.35. The company has a market cap of $97.03 billion, a PE ratio of 45.15, a P/E/G ratio of 4.09 and a beta of 1.15. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73.

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

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

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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