Swedbank AB reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,883 shares of the semiconductor company’s stock after selling 82,283 shares during the period. Swedbank AB owned about 0.52% of Synopsys worth $392,865,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Sankala Group LLC purchased a new position in Synopsys during the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Synopsys in the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Synopsys during the 4th quarter valued at $28,000. Atlas Capital Advisors Inc. purchased a new position in shares of Synopsys during the 4th quarter valued at $32,000. Finally, Phillip James Consulting Co. purchased a new position in shares of Synopsys during the 4th quarter valued at $36,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.
Synopsys Stock Down 2.4%
Shares of SNPS stock traded down $10.49 on Tuesday, hitting $431.78. The company’s stock had a trading volume of 359,239 shares, compared to its average volume of 2,042,710. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 100.11, a P/E/G ratio of 2.57 and a beta of 1.22. Synopsys, Inc. has a fifty-two week low of $376.18 and a fifty-two week high of $651.73. The firm’s fifty day moving average price is $482.19 and its 200-day moving average price is $461.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.32.
Insider Activity
In other news, CEO Sassine Ghazi sold 14,603 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the transaction, the chief executive officer owned 75,020 shares of the company’s stock, valued at approximately $34,431,179.20. This represents a 16.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shelagh Glaser sold 3,394 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $450.02, for a total value of $1,527,367.88. Following the completion of the transaction, the chief financial officer directly owned 14,358 shares in the company, valued at $6,461,387.16. The trade was a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.56% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Piper Sandler upgraded Synopsys from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $450.00 to $550.00 in a report on Tuesday, June 23rd. Rosenblatt Securities boosted their target price on Synopsys from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Stifel Nicolaus upped their target price on Synopsys from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. KeyCorp reaffirmed an “overweight” rating on shares of Synopsys in a research note on Thursday, May 28th. Finally, BNP Paribas Exane lifted their price target on Synopsys from $425.00 to $450.00 and gave the company an “underperform” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $570.06.
View Our Latest Report on SNPS
Synopsys Company Profile
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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