Profund Advisors LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 17.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,645 shares of the semiconductor company’s stock after acquiring an additional 2,505 shares during the quarter. Profund Advisors LLC’s holdings in Synopsys were worth $8,212,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Synopsys in the 2nd quarter worth $647,964,000. Ameriprise Financial Inc. boosted its holdings in Synopsys by 29.1% during the second quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company’s stock worth $1,333,095,000 after purchasing an additional 585,494 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Synopsys by 177.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 865,987 shares of the semiconductor company’s stock worth $427,269,000 after purchasing an additional 553,924 shares in the last quarter. Ninety One UK Ltd purchased a new stake in Synopsys in the 3rd quarter valued at about $249,851,000. Finally, Aspex Management HK Ltd lifted its position in shares of Synopsys by 106.0% during the 2nd quarter. Aspex Management HK Ltd now owns 645,895 shares of the semiconductor company’s stock worth $331,137,000 after buying an additional 332,364 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.
Synopsys Stock Up 4.0%
SNPS stock opened at $426.88 on Monday. The stock has a fifty day moving average of $479.33 and a 200-day moving average of $495.06. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The company has a market capitalization of $81.67 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 3.56 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.52 and a current ratio of 1.62.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Wall Street Zen raised Synopsys from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Citigroup began coverage on Synopsys in a research report on Monday, November 24th. They issued a “buy” rating and a $580.00 price objective on the stock. Bank of America upgraded Synopsys from an “underperform” rating to a “neutral” rating and lowered their target price for the stock from $525.00 to $500.00 in a research note on Monday, December 8th. Wells Fargo & Company boosted their price target on shares of Synopsys from $445.00 to $500.00 and gave the stock an “equal weight” rating in a report on Thursday, December 11th. Finally, Zacks Research upgraded shares of Synopsys from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $553.57.
Insider Buying and Selling
In related news, CFO Shelagh Glaser sold 3,657 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $460.77, for a total value of $1,685,035.89. Following the completion of the transaction, the chief financial officer directly owned 17,842 shares of the company’s stock, valued at approximately $8,221,058.34. This trade represents a 17.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Janet Lee sold 250 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $530.00, for a total transaction of $132,500.00. Following the sale, the insider directly owned 11,959 shares in the company, valued at $6,338,270. The trade was a 2.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,157 shares of company stock worth $1,945,036 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
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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