China Universal Asset Management Co. Ltd. Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

China Universal Asset Management Co. Ltd. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,769 shares of the semiconductor company’s stock after acquiring an additional 719 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Synopsys were worth $5,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SNPS. Norges Bank purchased a new position in shares of Synopsys in the fourth quarter valued at about $583,608,000. GAMMA Investing LLC raised its stake in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock valued at $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Capital Research Global Investors bought a new position in Synopsys in the 4th quarter worth approximately $239,864,000. Finally, Ameriprise Financial Inc. grew its holdings in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

Synopsys stock opened at $546.76 on Monday. The stock has a market cap of $84.83 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. 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 50 day simple moving average of $489.89 and a 200-day simple moving average of $477.94.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $3.00 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were 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 directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were 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 $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SNPS shares. Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Bank of America cut their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and an average price target of $607.14.

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.