18,056 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Walter Public Investments Inc.

Walter Public Investments Inc. acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,056 shares of the semiconductor company’s stock, valued at approximately $10,744,000. Synopsys makes up approximately 2.0% of Walter Public Investments Inc.’s investment portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of Synopsys in the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the first 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its holdings in 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 purchasing an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the second quarter worth $572,050,000. Finally, Capital World Investors increased its position in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird lifted their target price 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. Finally, Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling at Synopsys

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

Synopsys Price Performance

Shares of Synopsys stock opened at $490.07 on Monday. The stock has a market cap of $75.09 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. The firm has a fifty day moving average price of $536.92 and a 200 day moving average price of $559.22. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $2.17 EPS. The company’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

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.