Saudi Central Bank Makes New Investment in Synopsys, Inc. $SNPS

Saudi Central Bank bought a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 61 shares of the semiconductor company’s stock, valued at approximately $26,000.

Several other hedge funds also recently bought and sold shares of SNPS. Brighton Jones LLC raised its holdings in 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 purchasing an additional 50 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Synopsys by 58.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,288 shares of the semiconductor company’s stock worth $1,111,000 after acquiring an additional 841 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after acquiring an additional 391,681 shares during the period. BNP Paribas raised its holdings in shares of Synopsys by 54.4% during the fourth quarter. BNP Paribas now owns 32,010 shares of the semiconductor company’s stock worth $15,537,000 after acquiring an additional 11,274 shares during the period. Finally, Banque de Luxembourg S.A. acquired a new stake in shares of Synopsys during the fourth quarter worth $6,237,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer owned 15,291 shares of the company’s stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNPS shares. Morgan Stanley restated an “overweight” rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Piper Sandler raised their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Wells Fargo & Company restated a “positive” rating on shares of Synopsys in a report on Wednesday. Rosenblatt Securities raised their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $634.64.

Synopsys Stock Down 1.4%

Shares of SNPS stock opened at $603.52 on Monday. The company has a current ratio of 7.02, a quick ratio of 6.85 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. The firm’s fifty day moving average price is $583.07 and its two-hundred day moving average price is $503.25. The firm has a market capitalization of $93.64 billion, a P/E ratio of 43.58, a PEG ratio of 3.97 and a beta of 1.14.

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.