Primecap Management Co. CA Buys Shares of 895,350 Synopsys, Inc. $SNPS

Primecap Management Co. CA purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 895,350 shares of the semiconductor company’s stock, valued at approximately $399,389,000. Primecap Management Co. CA owned approximately 0.47% of Synopsys as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Synopsys in the 2nd quarter worth $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Synopsys during the second quarter valued at about $747,400,000. Norges Bank bought a new stake in Synopsys during the fourth quarter valued at about $730,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Synopsys in the second quarter valued at about $692,074,000. Finally, State Street Corp grew its position in shares of Synopsys by 20.6% in the third quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock valued at $4,322,273,000 after purchasing an additional 1,493,912 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $450.02, for a total value of $1,527,367.88. Following the sale, the chief financial officer owned 14,358 shares of the company’s stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the completion of the transaction, the chief executive officer owned 75,020 shares of the company’s stock, valued at approximately $34,431,179.20. This represents 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. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNPS. Wells Fargo & Company cut their price objective 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. Piper Sandler raised Synopsys from a “neutral” rating to an “overweight” rating and raised their target price for the company from $450.00 to $550.00 in a report on Tuesday, June 23rd. BNP Paribas Exane lifted their price target on Synopsys from $425.00 to $450.00 and gave the stock an “underperform” rating in a research report on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and set a $580.00 price target on shares of Synopsys in a report on Thursday, May 28th. Finally, Benchmark reissued a “buy” rating on shares of Synopsys in a research report on Wednesday, August 19th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $563.59.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $408.79 on Wednesday. The firm has a market capitalization of $78.28 billion, a PE ratio of 94.63, a PEG ratio of 2.32 and a beta of 1.23. 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 1-year low of $366.00 and a 1-year high of $615.79. The business’s 50 day moving average is $417.74 and its 200-day moving average is $439.85.

Synopsys (NASDAQ:SNPS) last issued its 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 business had revenue of $2.28 billion during 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%.Synopsys’s revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. Sell-side analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.