Handelsbanken Fonder AB Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Handelsbanken Fonder AB increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,839 shares of the semiconductor company’s stock after acquiring an additional 19,079 shares during the period. Handelsbanken Fonder AB owned approximately 0.05% of Synopsys worth $42,140,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SNPS. Cibc World Market Inc. lifted its position in Synopsys by 58.8% during the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after purchasing an additional 4,402 shares during the period. Prudential PLC purchased a new stake in Synopsys during the first quarter valued at approximately $993,000. Sequoia Financial Advisors LLC purchased a new stake in Synopsys during the first quarter valued at approximately $240,000. Covestor Ltd increased its holdings in Synopsys by 18.9% during the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 43 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in Synopsys by 64.4% during the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after buying an additional 658 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Down 1.7 %

Shares of NASDAQ:SNPS opened at $510.71 on Monday. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The stock has a market capitalization of $77.88 billion, a P/E ratio of 56.25, a PEG ratio of 2.98 and a beta of 1.06. The firm has a fifty day simple moving average of $566.66 and a two-hundred day simple moving average of $534.84.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $1.75 EPS. The business’s revenue was up 21.1% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $601.00.

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.