Alecta Tjanstepension Omsesidigt grew its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 41.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 466,960 shares of the semiconductor company’s stock after purchasing an additional 135,960 shares during the period. Alecta Tjanstepension Omsesidigt owned about 0.24% of Synopsys worth $230,407,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in SNPS. Vanguard Group Inc. grew its position in Synopsys by 20.7% in the third quarter. Vanguard Group Inc. now owns 18,181,185 shares of the semiconductor company’s stock valued at $8,970,415,000 after purchasing an additional 3,120,401 shares in the last quarter. State Street Corp lifted its position in Synopsys by 20.6% during the 3rd quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock worth $4,322,273,000 after buying an additional 1,493,912 shares in the last quarter. Victory Capital Management Inc. lifted its position in Synopsys by 238.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,824,349 shares of the semiconductor company’s stock worth $1,393,506,000 after buying an additional 1,990,608 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Synopsys by 29.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company’s stock worth $1,333,095,000 after buying an additional 585,494 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Synopsys by 226.6% during the 3rd quarter. Capital Research Global Investors now owns 2,524,512 shares of the semiconductor company’s stock worth $1,245,533,000 after buying an additional 1,751,432 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.
Synopsys Stock Performance
SNPS opened at $428.67 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.33. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The business has a 50 day moving average of $457.15 and a 200-day moving average of $459.91. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 66.56, a PEG ratio of 3.50 and a beta of 1.15.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on SNPS shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $480.00 target price (down from $550.00) on shares of Synopsys in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $600.00 price target on Synopsys and gave the company a “buy” rating in a research report on Wednesday, February 25th. Piper Sandler decreased their price target on Synopsys from $520.00 to $430.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Wall Street Zen raised Synopsys from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Wells Fargo & Company dropped their price objective on Synopsys from $500.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $531.00.
Read Our Latest Stock Analysis on SNPS
Insiders Place Their Bets
In other Synopsys news, insider Janet Lee sold 250 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $530.00, for a total value of $132,500.00. Following the transaction, the insider directly owned 11,959 shares in the company, valued at $6,338,270. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 3,657 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $460.77, for a total transaction of $1,685,035.89. Following the completion of the transaction, the chief financial officer directly owned 17,842 shares in the company, valued at $8,221,058.34. The trade was a 17.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,157 shares of company stock valued at $1,945,036. Company insiders own 0.56% of the company’s stock.
Synopsys Company Profile
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.
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