Hsbc Holdings PLC Increases Position in Synopsys, Inc. $SNPS

Hsbc Holdings PLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 16.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 384,396 shares of the semiconductor company’s stock after purchasing an additional 53,984 shares during the period. Hsbc Holdings PLC owned 0.20% of Synopsys worth $171,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after buying an additional 50 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Synopsys by 11.6% in the first quarter. Integrated Wealth Concepts LLC now owns 760 shares of the semiconductor company’s stock worth $326,000 after acquiring an additional 79 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Synopsys by 15.1% during the first quarter. NewEdge Advisors LLC now owns 3,010 shares of the semiconductor company’s stock worth $1,291,000 after acquiring an additional 395 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Synopsys by 9.2% during the second quarter. WINTON GROUP Ltd now owns 758 shares of the semiconductor company’s stock valued at $389,000 after acquiring an additional 64 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Synopsys by 2.1% during the second quarter. Treasurer of the State of North Carolina now owns 72,095 shares of the semiconductor company’s stock valued at $36,962,000 after acquiring an additional 1,505 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 14,603 shares of Synopsys stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 75,020 shares of the company’s stock, valued at $34,431,179.20. The trade was a 16.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, CFO Shelagh Glaser sold 3,394 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the sale, the chief financial officer directly owned 14,358 shares in the company, valued at $6,461,387.16. This trade represents a 19.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNPS shares. Bank of America lifted their target price on shares of Synopsys from $515.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Synopsys in a report on Monday, June 8th. Robert W. Baird set a $558.00 price target on Synopsys in a research report on Thursday, May 28th. Citigroup increased their price objective on Synopsys from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, KeyCorp restated an “overweight” rating on shares of Synopsys in a research note on Wednesday, August 19th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $563.59.

Synopsys Trading Up 3.6%

Shares of Synopsys stock opened at $408.79 on Wednesday. The stock has a market cap 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 has a fifty day moving average price of $417.74 and a 200 day moving average price of $439.85. Synopsys, Inc. has a 1 year low of $366.00 and a 1 year high of $615.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.32.

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

Synopsys Profile

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.