Ecofi Investissements SA Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Ecofi Investissements SA purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,350 shares of the semiconductor company’s stock, valued at approximately $6,400,000. Synopsys makes up 3.5% of Ecofi Investissements SA’s investment portfolio, making the stock its 15th largest position.

Several other hedge funds have also recently added to or reduced their stakes in SNPS. Swedbank AB bought a new stake in Synopsys in the 1st quarter worth approximately $1,051,637,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC boosted its stake in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Synopsys during the 2nd quarter valued at $572,050,000. Finally, Capital World Investors raised its position in Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Insiders have sold 55,424 shares of company stock worth $33,625,711 in the last 90 days. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average rating of “Buy” and a consensus price target of $638.00.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $513.31 on Monday. The firm has a market capitalization of $78.65 billion, a P/E ratio of 55.79, a P/E/G ratio of 3.34 and a beta of 1.08. The stock has a 50 day moving average price of $518.53 and a 200-day moving average price of $554.36. Synopsys, Inc. has a 52-week low of $445.07 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.17 EPS. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.