LGT Group Foundation Has $10.94 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

LGT Group Foundation reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,380 shares of the semiconductor company’s stock after selling 1,224 shares during the quarter. LGT Group Foundation’s holdings in Synopsys were worth $10,937,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the last quarter. Capital World Investors increased its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 1,514,449 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Synopsys by 6.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock valued at $1,321,019,000 after buying an additional 153,053 shares during the period. Finally, Norges Bank acquired a new stake in shares of Synopsys in the fourth quarter valued at about $1,272,143,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Synopsys stock traded up $0.51 during mid-day trading on Monday, reaching $464.48. The stock had a trading volume of 221,314 shares, compared to its average volume of 1,077,090. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The stock’s 50-day simple moving average is $550.05 and its 200-day simple moving average is $562.64. The firm has a market capitalization of $71.35 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNPS shares. Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $630.09.

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.