MUFG Securities EMEA plc raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,032 shares of the semiconductor company’s stock after acquiring an additional 532 shares during the quarter. Synopsys makes up 0.2% of MUFG Securities EMEA plc’s investment portfolio, making the stock its 18th largest position. MUFG Securities EMEA plc’s holdings in Synopsys were worth $13,008,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SNPS. HighTower Advisors LLC boosted its stake in shares of Synopsys by 5.0% during the 4th quarter. HighTower Advisors LLC now owns 5,891 shares of the semiconductor company’s stock worth $2,172,000 after purchasing an additional 282 shares during the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth about $31,000. Covestor Ltd acquired a new stake in shares of Synopsys during the 4th quarter worth about $84,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Synopsys by 7.7% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 116,903 shares of the semiconductor company’s stock worth $43,079,000 after purchasing an additional 8,341 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in shares of Synopsys by 16.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 29,662 shares of the semiconductor company’s stock worth $10,930,000 after purchasing an additional 4,099 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
Synopsys Stock Down 4.7 %
Shares of SNPS stock opened at $323.61 on Wednesday. The stock has a market cap of $49.48 billion, a price-to-earnings ratio of 49.11, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $255.02 and a fifty-two week high of $391.17. The firm’s 50 day moving average price is $346.96 and its two-hundred day moving average price is $319.31.
Synopsys announced that its Board of Directors has initiated a share repurchase program on Thursday, September 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SNPS. Stifel Nicolaus began coverage on shares of Synopsys in a research note on Wednesday, September 7th. They set a “buy” rating and a $445.00 price target on the stock. Atlantic Securities decreased their target price on shares of Synopsys to $350.00 and set a “na” rating on the stock in a research report on Thursday, May 19th. Needham & Company LLC raised their target price on shares of Synopsys from $380.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Wells Fargo & Company raised their target price on shares of Synopsys from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Finally, Robert W. Baird raised their target price on shares of Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $405.33.
Insider Transactions at Synopsys
In other news, Director Chrysostomos L. Nikias sold 400 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $367.77, for a total transaction of $147,108.00. Following the transaction, the director now directly owns 23,395 shares of the company’s stock, valued at $8,603,979.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Chrysostomos L. Nikias sold 400 shares of Synopsys stock in a transaction on Friday, August 19th. The shares were sold at an average price of $367.77, for a total value of $147,108.00. Following the completion of the sale, the director now owns 23,395 shares in the company, valued at $8,603,979.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mercedes Johnson sold 2,000 shares of Synopsys stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $360.00, for a total transaction of $720,000.00. Following the completion of the sale, the director now owns 5,346 shares of the company’s stock, valued at approximately $1,924,560. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,182 shares of company stock valued at $22,033,688. Corporate insiders own 1.20% of the company’s stock.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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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