Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by MUFG Securities EMEA plc

MUFG Securities EMEA plc grew its position in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 39,032 shares of the semiconductor company’s stock after purchasing an additional 532 shares during the quarter. Synopsys accounts for about 0.2% of MUFG Securities EMEA plc’s holdings, making the stock its 18th biggest holding. MUFG Securities EMEA plc’s holdings in Synopsys were worth $13,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. San Luis Wealth Advisors LLC acquired a new position in Synopsys during the 1st quarter valued at about $29,000. Confluence Wealth Services Inc. acquired a new position in Synopsys during the 4th quarter valued at about $31,000. MCF Advisors LLC acquired a new position in Synopsys during the 1st quarter valued at about $40,000. Lansing Street Advisors acquired a new position in Synopsys during the 1st quarter valued at about $43,000. Finally, Curi Wealth Management LLC increased its stake in Synopsys by 106.8% during the 1st quarter. Curi Wealth Management LLC now owns 151 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Insider Transactions at Synopsys

In other news, CFO Trac Pham sold 18,393 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the completion of the sale, the chief financial officer now directly owns 39,811 shares of the company’s stock, valued at $12,223,171.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Sassine Ghazi sold 4,651 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $300.67, for a total value of $1,398,416.17. Following the transaction, the chief operating officer now owns 45,173 shares in the company, valued at $13,582,165.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Trac Pham sold 18,393 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $307.03, for a total value of $5,647,202.79. Following the completion of the transaction, the chief financial officer now owns 39,811 shares in the company, valued at approximately $12,223,171.33. The disclosure for this sale can be found here. Insiders sold 64,182 shares of company stock valued at $22,033,688 over the last three months. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNPS. UBS Group cut their price target on shares of Synopsys to $360.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Wolfe Research began coverage on shares of Synopsys in a report on Tuesday, August 16th. They issued an “outperform” rating and a $440.00 price target for the company. Stifel Nicolaus began coverage on shares of Synopsys in a report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 price target for the company. KeyCorp upped their price target on shares of Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Finally, Rosenblatt Securities upped their price target on shares of Synopsys from $390.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $405.33.

Synopsys Price Performance

NASDAQ SNPS opened at $323.61 on Wednesday. The company has a 50 day simple moving average of $346.96 and a 200-day simple moving average of $319.31. The firm has a market capitalization 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 52-week low of $255.02 and a 52-week high of $391.17.

Synopsys (NASDAQ:SNPSGet Rating) last posted its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. On average, analysts predict that Synopsys, Inc. will post 6.41 EPS for the current year.

Synopsys declared that its board has approved a share repurchase program on Thursday, September 1st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About Synopsys

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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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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