Invesco LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Invesco LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.0% during the second quarter, HoldingsChannel reports. The fund owned 2,310 shares of the semiconductor company’s stock after buying an additional 68 shares during the quarter. Invesco LLC’s holdings in Synopsys were worth $1,375,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in SNPS. Norges Bank purchased a new stake in shares of Synopsys during the fourth quarter worth $1,272,143,000. Swedbank AB bought a new position in Synopsys in the 1st quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD grew its holdings in Synopsys by 39.6% during 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 buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Finally, Capital World Investors increased 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 worth $4,211,892,000 after acquiring an additional 818,485 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, KeyCorp lifted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $464.16 on Tuesday. The business’s 50-day moving average is $547.30 and its 200 day moving average is $561.82. The stock has a market capitalization of $71.30 billion, a PE ratio of 50.45, a PEG ratio of 3.06 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Synopsys Company Profile

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.