Legal & General Group Plc Purchases Shares of 1,102,793 Synopsys, Inc. $SNPS

Legal & General Group Plc purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,102,793 shares of the semiconductor company’s stock, valued at approximately $491,923,000.

Several other hedge funds have also recently made changes to their positions in the business. Sankala Group LLC bought a new stake in shares of Synopsys during the 4th quarter valued at about $25,000. Elevation Wealth Partners LLC increased its holdings in Synopsys by 96.4% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 27 shares in the last quarter. Osbon Capital Management LLC bought a new stake in Synopsys in the second quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Synopsys in the second quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Synopsys in the fourth quarter valued at approximately $28,000. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $408.79 on Wednesday. The stock has a market cap of $78.28 billion, a price-to-earnings ratio of 94.63, a PEG 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. Synopsys, Inc. has a fifty-two week low of $366.00 and a fifty-two week high of $615.79. The firm’s 50-day simple moving average is $417.74 and its 200 day simple moving average is $439.85.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.20. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Synopsys had a return on equity of 5.83% and a net margin of 8.91%.The company’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.67 EPS. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 3,394 shares of Synopsys stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the transaction, the chief financial officer owned 14,358 shares of the company’s stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the company’s 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 sale, the chief executive officer owned 75,020 shares of the company’s stock, valued at $34,431,179.20. This trade represents a 16.29% decrease in their position. The SEC filing for this sale provides additional information. 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 insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNPS. Morgan Stanley cut their price target on Synopsys from $525.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Needham & Company LLC reiterated a “buy” rating and set a $580.00 target price on shares of Synopsys in a research report on Thursday, May 28th. Stifel Nicolaus increased their target price on shares of Synopsys from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Berenberg Bank set a $633.00 price target on shares of Synopsys in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Synopsys in a report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $563.59.

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.