AIA Group Ltd Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

AIA Group Ltd lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 73.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,913 shares of the semiconductor company’s stock after buying an additional 9,727 shares during the period. AIA Group Ltd’s holdings in Synopsys were worth $9,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SNPS. Brighton Jones LLC boosted its position in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after buying an additional 50 shares during the period. Argent Trust Co boosted its position in shares of Synopsys by 8.9% in the fourth quarter. Argent Trust Co now owns 833 shares of the semiconductor company’s stock worth $404,000 after buying an additional 68 shares during the period. Sterling Capital Management LLC boosted its position in shares of Synopsys by 2.6% in the fourth quarter. Sterling Capital Management LLC now owns 9,973 shares of the semiconductor company’s stock worth $4,840,000 after buying an additional 256 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Synopsys by 8.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,418 shares of the semiconductor company’s stock worth $11,859,000 after buying an additional 1,836 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $606,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 0.1%

Shares of NASDAQ SNPS opened at $619.42 on Monday. The stock’s 50 day moving average price is $544.48 and its two-hundred day moving average price is $494.35. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The stock has a market capitalization of $96.11 billion, a P/E ratio of 44.72, a PEG ratio of 4.10 and a beta of 1.15. 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 (NASDAQ:SNPS) last announced its quarterly earnings results 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. The business had revenue of $1.60 billion for 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%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. On average, analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Mizuho reduced their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group assumed coverage on Synopsys in a report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price target for the company. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Finally, Bank of America increased their price target on Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $622.33.

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.