Ieq Capital LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 12.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,085 shares of the semiconductor company’s stock after buying an additional 3,146 shares during the period. Ieq Capital LLC’s holdings in Synopsys were worth $17,307,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Synopsys in the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Synopsys during the 2nd quarter valued at approximately $572,050,000. Finally, Capital World Investors raised its holdings in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares during the period. 85.47% of the stock is currently owned by institutional investors.
Synopsys Stock Performance
Synopsys stock opened at $514.12 on Friday. The company has a market capitalization of $78.97 billion, a PE ratio of 55.88, a P/E/G ratio of 3.29 and a beta of 1.08. The company has a 50 day moving average price of $528.10 and a 200-day moving average price of $557.32. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38.
Wall Street Analyst Weigh In
Several research firms have commented on SNPS. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $630.09.
Read Our Latest Report on SNPS
Insider Buying and Selling
In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,177,544.14. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock valued at $44,616,637 over the last three months. 0.66% of the stock is owned by company insiders.
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.
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