125,316 Shares in Synopsys, Inc. $SNPS Acquired by Man Group plc

Man Group plc purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 125,316 shares of the semiconductor company’s stock, valued at approximately $55,900,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Synopsys during the second quarter worth approximately $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Synopsys in the second quarter worth $747,400,000. Norges Bank purchased a new position in shares of Synopsys in the 4th quarter valued at $730,197,000. Bank of New York Mellon Corp purchased a new position in shares of Synopsys in the 2nd quarter valued at $692,074,000. Finally, State Street Corp lifted its holdings in shares of Synopsys by 20.6% during the 3rd quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock valued at $4,322,273,000 after acquiring an additional 1,493,912 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 3.6%

NASDAQ SNPS opened at $408.79 on Wednesday. The stock has a market cap of $78.28 billion, a P/E ratio of 94.63, a PEG ratio of 2.32 and a beta of 1.23. The company’s fifty day simple moving average is $417.74 and its 200-day simple moving average is $439.85. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.33. Synopsys, Inc. has a 52 week low of $366.00 and a 52 week high of $615.79.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.20. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned $3.67 EPS. The business’s revenue was up 41.9% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shelagh Glaser sold 3,394 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the completion of the sale, the chief financial officer directly owned 14,358 shares in the company, valued at $6,461,387.16. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of Synopsys stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $458.96, for a total value of $6,702,192.88. Following the sale, the chief executive officer directly owned 75,020 shares in the company, valued at approximately $34,431,179.20. The trade was a 16.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Synopsys in a research report on Monday, June 8th. Benchmark reissued a “buy” rating on shares of Synopsys in a research report on Wednesday, August 19th. Morgan Stanley reduced their price objective on Synopsys from $525.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Berenberg Bank set a $633.00 target price on Synopsys in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company decreased their target price on Synopsys from $535.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Eleven 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. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $563.59.

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.