Canada Pension Plan Investment Board Takes $267.69 Million Position in Synopsys, Inc. $SNPS

Canada Pension Plan Investment Board acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 600,117 shares of the semiconductor company’s stock, valued at approximately $267,694,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Synopsys in the 2nd quarter worth about $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $747,400,000. Norges Bank purchased a new stake in shares of Synopsys during the 4th quarter valued at about $730,197,000. Bank of New York Mellon Corp bought a new stake in shares of Synopsys in the second quarter worth approximately $692,074,000. Finally, State Street Corp raised its holdings in shares of Synopsys by 20.6% during 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. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $408.79 on Wednesday. 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 stock has a market capitalization of $78.28 billion, a PE ratio of 94.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.23. The firm’s 50 day moving average price is $417.74 and its 200-day moving average price is $439.85. Synopsys, Inc. has a twelve month low of $366.00 and a twelve month high of $615.79.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on SNPS shares. Berenberg Bank set a $633.00 price objective on shares of Synopsys in a research report on Wednesday, May 27th. Robert W. Baird set a $558.00 target price on shares of Synopsys in a research report on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and set a $575.00 target price on shares of Synopsys in a research note on Tuesday. KeyCorp reissued an “overweight” rating on shares of Synopsys in a report on Wednesday, August 19th. Finally, 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 note on Thursday, May 28th. Eleven research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $563.59.

Insider Activity at Synopsys

In other news, CFO Shelagh Glaser sold 3,394 shares of Synopsys stock in a transaction on 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 transaction, the chief financial officer owned 14,358 shares in the company, valued at $6,461,387.16. This trade represents a 19.12% decrease in their position. The sale was disclosed in a legal filing 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 shares were sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the sale, the chief executive officer directly 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. 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. 0.56% of the stock is currently owned by company insiders.

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.