APG Asset Management N.V. Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

APG Asset Management N.V. raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,541 shares of the semiconductor company’s stock after buying an additional 38,972 shares during the period. APG Asset Management N.V. owned 0.10% of Synopsys worth $88,581,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the business. Andina Capital Management LLC grew its stake in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 20 shares in 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 increased its stake in shares of Synopsys by 1.1% in the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after buying an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other 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 owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 5,893 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $602.00, for a total transaction of $3,547,586.00. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,403,766. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,317 shares of company stock valued at $37,173,297. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

Shares of SNPS opened at $515.40 on Friday. The firm has a market cap of $78.97 billion, a P/E ratio of 56.02, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $442.00 and a 1 year high of $629.38. The company has a 50 day simple moving average of $520.43 and a two-hundred day simple moving average of $555.20.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 EPS. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus price target of $630.09.

About Synopsys

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.