XTX Topco Ltd Buys 8,494 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• XTX Topco Ltd significantly increased its holdings in Synopsys, Inc. by 1,807.2%, now owning 8,964 shares worth approximately $3.84 million.
• Several institutional investors, including Advisors Capital Management LLC and Hazlett Burt & Watson Inc., have also increased their stakes in Synopsys, indicating strong institutional interest in the semiconductor company.
• Synopsys reported an impressive $3.67 EPS for the last quarter, exceeding expectations, with a consensus rating of "Moderate Buy" and a price target of around $622.33.

XTX Topco Ltd boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1,807.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,964 shares of the semiconductor company's stock after acquiring an additional 8,494 shares during the quarter. XTX Topco Ltd's holdings in Synopsys were worth $3,844,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Capital World Investors increased its position in Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after acquiring an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% in the 4th 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 acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC increased its position in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after acquiring an additional 75,298 shares during the period. Pictet Asset Management Holding SA increased its position in Synopsys by 38.3% in the 1st 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 acquiring an additional 673,837 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after acquiring an additional 391,681 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 1.5%

Shares of Synopsys stock traded up $9.54 during midday trading on Wednesday, hitting $645.35. The company's stock had a trading volume of 1,917,305 shares, compared to its average volume of 2,440,959. The firm has a market capitalization of $100.13 billion, a P/E ratio of 46.60, a PEG ratio of 4.21 and a beta of 1.12. The stock has a 50-day simple moving average of $524.65 and a 200-day simple moving average of $489.58. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-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, topping the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 earnings per share. As a group, sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the 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 completion of the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 sale, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $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 sold a total of 27,686 shares of company stock valued at $13,001,048 over the last quarter. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SNPS. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Bank of America increased their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. KeyCorp increased their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Finally, 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $622.33.

Synopsys Company 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.