Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Assetmark Inc.

Assetmark Inc. increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.4% during the 1st quarter, HoldingsChannel reports. The firm owned 16,945 shares of the semiconductor company’s stock after acquiring an additional 1,014 shares during the period. Assetmark Inc.’s holdings in Synopsys were worth $7,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Capital World Investors lifted its stake in Synopsys by 1.6% in 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 buying an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC boosted its stake in Synopsys by 2.3% during 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 purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA grew 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 worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Finally, Ameriprise Financial Inc. grew 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 worth $916,441,000 after purchasing an additional 391,681 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm’s 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 sale, the chief financial officer owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The stock was 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 in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by company insiders.

Synopsys Trading Down 1.3%

SNPS opened at $601.55 on Monday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $618.49. The stock has a market capitalization of $93.34 billion, a PE ratio of 43.43, a PEG ratio of 3.98 and a beta of 1.12. 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 firm has a 50-day moving average price of $517.83 and a two-hundred day moving average price of $486.77.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Piper Sandler lifted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. KeyCorp increased their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Needham & Company LLC restated a “buy” rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Bank of America upped their price target on shares of Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $622.33.

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.