BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 11,075 Shares of Synopsys, Inc. (NASDAQ:SNPS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 61.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,221 shares of the semiconductor company’s stock after acquiring an additional 11,075 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Synopsys were worth $17,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Andina Capital Management LLC lifted its holdings in shares of Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares during the last quarter. Ignite Planners LLC raised its holdings in Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 20 shares during the last quarter. Finally, Monument Capital Management raised its holdings in Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $506.83 on Wednesday. The company has a market capitalization of $77.85 billion, a PE ratio of 55.09, a P/E/G ratio of 3.34 and a beta of 1.08. The company has a 50 day simple moving average of $521.63 and a two-hundred day simple moving average of $555.52. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’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 transaction 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 approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders sold a total of 69,475 shares of company stock valued at $42,089,227 in the last quarter. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. KeyCorp raised their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $630.09.

Synopsys Profile

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.