Covington Investment Advisors Inc. Buys Shares of 20,602 Synopsys, Inc. $SNPS

Covington Investment Advisors Inc. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,602 shares of the semiconductor company’s stock, valued at approximately $9,190,000. Synopsys comprises approximately 1.2% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Synopsys during the second quarter valued at approximately $201,902,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Synopsys in the 2nd quarter worth approximately $670,000. Bank of Nova Scotia acquired a new position in Synopsys in the 2nd quarter valued at $95,816,000. Elevation Point Wealth Partners LLC acquired a new position in Synopsys in the 2nd quarter valued at $449,000. Finally, Alta Advisers Ltd purchased a new position in shares of Synopsys during the 2nd quarter worth $320,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction, the chief executive officer directly owned 75,020 shares of the company’s stock, valued at $34,431,179.20. The trade was a 16.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. Also, CFO Shelagh Glaser sold 3,394 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.56% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $397.87 on Monday. The stock has a market capitalization of $76.18 billion, a PE ratio of 92.10, a P/E/G ratio of 2.34 and a beta of 1.23. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $419.73 and a 200-day moving average of $440.09. Synopsys, Inc. has a 52-week low of $366.00 and a 52-week high of $615.79.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.20. Synopsys had a return on equity of 5.83% and a net margin of 8.91%.The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company posted $3.67 EPS. The business’s quarterly revenue was up 41.9% on a year-over-year basis. Synopsys has set its FY 2026 guidance at 14.720-14.800 EPS and its Q3 2026 guidance at 3.630-3.690 EPS. On average, analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNPS shares. Citigroup raised their price objective on Synopsys from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Morgan Stanley reduced their target price on Synopsys from $525.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Rosenblatt Securities raised their price target on Synopsys from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Stifel Nicolaus lifted their price target on Synopsys from $550.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Robert W. Baird set a $558.00 price objective on shares of Synopsys in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $563.59.

Synopsys 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.