Wellington Management Group LLP Increases Position in Synopsys, Inc. $SNPS

Wellington Management Group LLP lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,112,628 shares of the semiconductor company’s stock after buying an additional 54,868 shares during the period. Wellington Management Group LLP’s holdings in Synopsys were worth $477,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. GAMMA Investing LLC boosted its stake in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after buying an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after buying an additional 1,045,326 shares during the last quarter. Nuveen LLC purchased a new position in shares of Synopsys in the 1st quarter worth approximately $341,480,000. Pictet Asset Management Holding SA boosted its stake in shares of Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after buying an additional 391,681 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNPS shares. The Goldman Sachs Group initiated coverage on Synopsys in a research note on Thursday, July 10th. They issued a “buy” rating and a $620.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Bank of America upped their price objective on Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Rosenblatt Securities upped their price objective on Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $630.67.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by company insiders.

Synopsys Trading Up 1.2%

Shares of SNPS stock opened at $625.33 on Tuesday. The company’s fifty day simple moving average is $561.49 and its two-hundred day simple moving average is $498.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a market capitalization of $97.03 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 4.09 and a beta of 1.15.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 EPS. As a group, analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current 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.