Legal & General Group Plc Makes New $491.92 Million Investment in Synopsys, Inc. $SNPS

Legal & General Group Plc purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,102,793 shares of the semiconductor company’s stock, valued at approximately $491,923,000. Legal & General Group Plc owned approximately 0.58% of Synopsys as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Sankala Group LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $25,000. Elevation Wealth Partners LLC raised its position in Synopsys by 96.4% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 27 shares in the last quarter. Osbon Capital Management LLC bought a new stake in Synopsys during the second quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in Synopsys during the second quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Synopsys in the 4th quarter valued at $28,000. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were 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 owned 14,358 shares of the company’s stock, valued at approximately $6,461,387.16. This represents a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the transaction, the chief executive officer owned 75,020 shares of the company’s stock, valued at approximately $34,431,179.20. The trade was a 16.29% decrease in their position. 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. 0.56% of the stock is owned by company insiders.

Synopsys Stock Up 3.6%

Shares of NASDAQ:SNPS opened at $408.79 on Wednesday. The firm has a market cap of $78.28 billion, a P/E ratio of 94.63, a P/E/G ratio of 2.32 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $366.00 and a 12-month high of $615.79. The business has a fifty day simple moving average of $417.74 and a 200 day simple moving average of $439.85. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.33.

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

Analysts Set New Price Targets

Several analysts recently weighed in on SNPS shares. Wells Fargo & Company reduced their price objective on Synopsys from $535.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Citigroup increased their target price on shares of Synopsys from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. BNP Paribas Exane raised their price target on shares of Synopsys from $425.00 to $450.00 and gave the company an “underperform” rating in a research note on Thursday, May 28th. Zacks Research lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Finally, Robert W. Baird set a $558.00 price objective on shares of Synopsys in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $563.59.

About Synopsys

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.