Covington Investment Advisors Inc. Has $9.19 Million Position in Synopsys, Inc. $SNPS

Covington Investment Advisors Inc. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.0% in the second quarter, HoldingsChannel.com reports. The fund owned 20,602 shares of the semiconductor company’s stock after buying an additional 2,688 shares during the period. Synopsys comprises approximately 1.2% of Covington Investment Advisors Inc.’s portfolio, making the stock its 28th biggest holding. Covington Investment Advisors Inc.’s holdings in Synopsys were worth $9,190,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SNPS. BlackRock Inc. acquired a new position in Synopsys during the second quarter valued at approximately $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Synopsys in the 2nd quarter valued at $747,400,000. Norges Bank acquired a new stake in shares of Synopsys in the 4th quarter valued at $730,197,000. Bank of New York Mellon Corp bought a new position in shares of Synopsys in the 2nd quarter valued at $692,074,000. Finally, State Street Corp increased its stake in shares of Synopsys by 20.6% in 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 purchasing an additional 1,493,912 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler upgraded Synopsys from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $450.00 to $550.00 in a research report on Tuesday, June 23rd. BNP Paribas Exane lifted their target price on Synopsys from $425.00 to $450.00 and gave the company an “underperform” rating in a research report on Thursday, May 28th. Mizuho lowered their target price on Synopsys from $600.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $580.00 target price on shares of Synopsys in a report on Thursday, August 27th. Finally, KeyCorp restated an “overweight” rating on shares of Synopsys in a research note on Wednesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $561.28.

Insider Activity

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 transaction, 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 through the SEC website. 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 that occurred on 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 completion of the transaction, the chief executive officer directly owned 75,020 shares in the company, valued at approximately $34,431,179.20. This represents a 16.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 42,997 shares of company stock valued at $19,368,311. Company insiders own 0.56% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $439.59 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 0.29. Synopsys, Inc. has a twelve month low of $366.00 and a twelve month high of $615.79. The stock has a market cap of $84.24 billion, a price-to-earnings ratio of 77.67, a P/E/G ratio of 2.42 and a beta of 1.23. The company’s fifty day moving average is $416.14 and its 200 day moving average is $440.15.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 26th. The semiconductor company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.24. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. Synopsys had a return on equity of 6.24% and a net margin of 11.43%.Synopsys’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same period last year, the company earned $3.39 EPS. Synopsys has set its Q4 2026 guidance at 4.100-4.160 EPS and its FY 2026 guidance at 15.040-15.100 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 11.03 EPS 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.