Manning & Napier Advisors LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 99.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 628 shares of the semiconductor company’s stock after selling 139,535 shares during the period. Manning & Napier Advisors LLC’s holdings in Synopsys were worth $310,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Synopsys during the 2nd quarter valued at about $647,964,000. Ameriprise Financial Inc. boosted its holdings in Synopsys by 29.1% during the second quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company’s stock worth $1,333,095,000 after buying an additional 585,494 shares in the last quarter. Ninety One UK Ltd acquired a new position in Synopsys in the third quarter worth approximately $249,851,000. Aspex Management HK Ltd increased its holdings in shares of Synopsys by 106.0% in the second quarter. Aspex Management HK Ltd now owns 645,895 shares of the semiconductor company’s stock valued at $331,137,000 after buying an additional 332,364 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Synopsys by 1.6% in the second quarter. Vanguard Group Inc. now owns 15,060,784 shares of the semiconductor company’s stock valued at $7,721,363,000 after buying an additional 231,014 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.
Synopsys Price Performance
NASDAQ SNPS opened at $508.19 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.52. The firm has a market capitalization of $97.23 billion, a price-to-earnings ratio of 63.60, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12. The company has a 50 day simple moving average of $452.89 and a 200-day simple moving average of $505.04. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SNPS. Piper Sandler cut Synopsys from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $602.00 to $520.00 in a report on Tuesday. Bank of America upgraded Synopsys from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $525.00 to $500.00 in a research report on Monday, December 8th. Wells Fargo & Company boosted their price objective on Synopsys from $445.00 to $500.00 and gave the stock an “equal weight” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Finally, KeyCorp lifted their target price on shares of Synopsys from $575.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, December 11th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $553.57.
Read Our Latest Stock Analysis on SNPS
Insider Buying and Selling at Synopsys
In related news, CFO Shelagh Glaser sold 3,657 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $460.77, for a total transaction of $1,685,035.89. Following the completion of the sale, the chief financial officer directly owned 17,842 shares in the company, valued at approximately $8,221,058.34. This trade represents a 17.01% 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, insider Janet Lee sold 250 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $530.00, for a total value of $132,500.00. Following the completion of the transaction, the insider owned 11,959 shares in the company, valued at $6,338,270. This trade represents a 2.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,157 shares of company stock valued at $1,945,036. 0.62% of the stock is owned by corporate insiders.
About Synopsys
Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.
In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.
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