OMERS ADMINISTRATION Corp Takes $4.31 Million Position in Synopsys, Inc. $SNPS

OMERS ADMINISTRATION Corp purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,672 shares of the semiconductor company’s stock, valued at approximately $4,314,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sankala Group LLC purchased a new position in Synopsys during the fourth quarter worth about $25,000. Elevation Wealth Partners LLC raised its stake in shares of Synopsys by 96.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 27 shares during the period. IMG Wealth Management Inc. acquired a new position in shares of Synopsys in the 2nd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Synopsys in the 4th quarter worth approximately $28,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Synopsys during the 4th quarter worth approximately $32,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Shelagh Glaser sold 3,394 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 business’s stock in a transaction 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 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 ownership of the stock. 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SNPS shares. Citigroup lifted their target price on shares of Synopsys from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, May 28th. BNP Paribas Exane raised 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. Zacks Research cut Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Bank of America boosted their price objective on Synopsys from $515.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company decreased their target price 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. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $563.59.

Synopsys Price Performance

Shares of SNPS opened at $408.79 on Wednesday. The company has a market cap of $78.28 billion, a P/E ratio of 94.63, a PEG ratio of 2.32 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $366.00 and a fifty-two week high of $615.79. 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’s 50 day moving average price is $417.74 and its 200 day moving average price is $439.85.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.15 by $0.20. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The firm’s revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 EPS. On average, research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal 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.