Meiji Yasuda Asset Management Co Ltd. Invests $670,000 in Synopsys, Inc. $SNPS

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, Holdings Channel.com reports. The fund purchased 1,502 shares of the semiconductor company’s stock, valued at approximately $670,000.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Brighton Jones LLC grew its holdings in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 50 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Synopsys by 11.6% during the first quarter. Integrated Wealth Concepts LLC now owns 760 shares of the semiconductor company’s stock worth $326,000 after acquiring an additional 79 shares during the period. NewEdge Advisors LLC lifted its holdings in Synopsys by 15.1% during the first quarter. NewEdge Advisors LLC now owns 3,010 shares of the semiconductor company’s stock worth $1,291,000 after acquiring an additional 395 shares during the period. WINTON GROUP Ltd boosted its position in Synopsys by 9.2% in the second quarter. WINTON GROUP Ltd now owns 758 shares of the semiconductor company’s stock worth $389,000 after purchasing an additional 64 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Synopsys by 2.1% in the second quarter. Treasurer of the State of North Carolina now owns 72,095 shares of the semiconductor company’s stock worth $36,962,000 after purchasing an additional 1,505 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 14,603 shares of Synopsys stock in a transaction on Monday, June 15th. The stock was sold at an average price of $458.96, for a total value of $6,702,192.88. Following the completion of the transaction, the chief executive officer directly owned 75,020 shares in the company, valued at approximately $34,431,179.20. The trade was a 16.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business’s stock in a transaction 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 sale, the chief financial officer owned 14,358 shares in the company, valued at approximately $6,461,387.16. The trade was a 19.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNPS has been the subject of several research analyst reports. Zacks Research lowered Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Morgan Stanley lowered their target price on Synopsys from $525.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Berenberg Bank set a $633.00 price target on shares of Synopsys in a report on Wednesday, May 27th. Needham & Company LLC restated a “buy” rating and set a $580.00 price target on shares of Synopsys in a research report on Thursday, May 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Synopsys from $535.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $563.59.

Synopsys Stock Up 3.6%

SNPS opened at $408.79 on Wednesday. Synopsys, Inc. has a 12 month low of $366.00 and a 12 month high of $615.79. The company has a market cap of $78.28 billion, a PE ratio of 94.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.23. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $417.74 and a 200 day moving average of $439.85.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.20. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.67 EPS. On average, sell-side analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

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.