Primecap Management Co. CA Purchases New Position in Synopsys, Inc. $SNPS

Primecap Management Co. CA purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, Holdings Channel reports. The firm purchased 895,350 shares of the semiconductor company’s stock, valued at approximately $399,389,000.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 50 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Synopsys by 11.6% in the first quarter. Integrated Wealth Concepts LLC now owns 760 shares of the semiconductor company’s stock valued at $326,000 after buying an additional 79 shares in the last quarter. NewEdge Advisors LLC grew its stake 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 buying an additional 395 shares during the last quarter. WINTON GROUP Ltd grew its stake in Synopsys by 9.2% during the second quarter. WINTON GROUP Ltd now owns 758 shares of the semiconductor company’s stock worth $389,000 after buying an additional 64 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Synopsys by 2.1% during 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 buying an additional 1,505 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the transaction, the chief financial officer directly owned 14,358 shares in the company, valued at approximately $6,461,387.16. This represents a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $458.96, for a total transaction 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 $34,431,179.20. This trade represents a 16.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird set a $558.00 target price on shares of Synopsys in a research note on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Synopsys in a research report on Monday, June 8th. Berenberg Bank set a $633.00 price objective on Synopsys in a research note on Wednesday, May 27th. Citigroup boosted their price objective on Synopsys from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $575.00 target price on shares of Synopsys in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $563.59.

Synopsys Stock Up 3.6%

NASDAQ:SNPS opened at $408.79 on Wednesday. The company has a market cap of $78.28 billion, a price-to-earnings ratio of 94.63, a P/E/G ratio of 2.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.32 and a current ratio of 1.43. The stock’s fifty day moving average price is $417.74 and its two-hundred day moving average price is $439.85. Synopsys, Inc. has a 52-week low of $366.00 and a 52-week high of $615.79.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.15 by $0.20. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Synopsys had a return on equity of 5.83% and a net margin of 8.91%.The business’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same period last year, the firm earned $3.67 EPS. On average, analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

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.