Sanctuary Advisors LLC Makes New $4.11 Million Investment in Synopsys, Inc. $SNPS

Sanctuary Advisors LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,217 shares of the semiconductor company’s stock, valued at approximately $4,111,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Synopsys in the second quarter valued at about $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Synopsys during the 2nd quarter worth approximately $747,400,000. Norges Bank acquired a new position in Synopsys during the 4th quarter worth approximately $730,197,000. Bank of New York Mellon Corp purchased a new position in Synopsys in the 2nd quarter worth approximately $692,074,000. Finally, State Street Corp boosted its holdings in Synopsys by 20.6% in the 3rd quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock worth $4,322,273,000 after acquiring an additional 1,493,912 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $408.79 on Wednesday. The firm has a market cap of $78.28 billion, a price-to-earnings ratio of 94.63, a PEG ratio of 2.32 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 business’s 50 day moving average is $417.74 and its two-hundred day moving average is $439.85. Synopsys, Inc. has a 52-week low of $366.00 and a 52-week high of $615.79.

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

Analyst Ratings Changes

SNPS has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Synopsys from $515.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Stifel Nicolaus upped their target price on shares of Synopsys from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company lowered their price target on shares of Synopsys from $535.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Morgan Stanley dropped their price target on shares of Synopsys from $525.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Synopsys in a report on Monday, June 8th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $563.59.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 14,603 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $458.96, for a total value of $6,702,192.88. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 company’s stock in a transaction dated 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 in the company, valued at approximately $6,461,387.16. This trade represents a 19.12% decrease in their position. 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. Corporate insiders own 0.56% of the company’s stock.

Synopsys Company 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.