AIA Group Ltd Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

AIA Group Ltd lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 30.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,043 shares of the semiconductor company’s stock after purchasing an additional 2,134 shares during the quarter. AIA Group Ltd’s holdings in Synopsys were worth $5,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Coldstream Capital Management Inc. lifted its stake in shares of Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after acquiring an additional 18 shares during the last quarter. Mission Wealth Management LP lifted its stake in shares of Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after acquiring an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the last quarter. Finally, Monument Capital Management lifted its stake in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 0.9 %

Shares of SNPS stock traded up $5.31 during midday trading on Friday, reaching $614.05. 505,036 shares of the stock were exchanged, compared to its average volume of 1,066,659. Synopsys, Inc. has a 1 year low of $418.51 and a 1 year high of $629.38. The company’s 50 day moving average is $586.10 and its two-hundred day moving average is $560.57. The firm has a market cap of $94.08 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 4.00 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $1.76 EPS. The firm’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts expect that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders have sold 80,870 shares of company stock worth $49,055,307 in the last 90 days. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNPS. JPMorgan Chase & Co. boosted their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler boosted their target price on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $627.18.

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.