Employees Retirement System of Texas Has $9.30 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Employees Retirement System of Texas raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 73.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,631 shares of the semiconductor company’s stock after purchasing an additional 6,635 shares during the quarter. Employees Retirement System of Texas’ holdings in Synopsys were worth $9,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. APG Asset Management N.V. lifted its position in shares of Synopsys by 32.3% during the 2nd quarter. APG Asset Management N.V. now owns 159,541 shares of the semiconductor company’s stock worth $88,581,000 after buying an additional 38,972 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of Synopsys by 2.2% during the second quarter. APG Asset Management US Inc. now owns 47,487 shares of the semiconductor company’s stock valued at $28,575,000 after acquiring an additional 1,012 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Synopsys by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,221 shares of the semiconductor company’s stock valued at $17,388,000 after purchasing an additional 11,075 shares in the last quarter. Resources Management Corp CT ADV grew its holdings in shares of Synopsys by 189.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 341 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 223 shares during the last quarter. Finally, Morse Asset Management Inc increased its position in shares of Synopsys by 7.1% during the 2nd quarter. Morse Asset Management Inc now owns 2,420 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 160 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Synopsys Stock Up 0.7 %

Shares of NASDAQ:SNPS opened at $510.36 on Thursday. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The business has a 50 day moving average of $521.63 and a 200-day moving average of $555.52. The stock has a market cap of $78.20 billion, a PE ratio of 55.47, a P/E/G ratio of 3.34 and a beta of 1.08.

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

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold a total of 61,317 shares of company stock valued at $37,173,297 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

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.