KLP Kapitalforvaltning AS Grows Stock Position in Synopsys, Inc. $SNPS

KLP Kapitalforvaltning AS grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 58,990 shares of the semiconductor company’s stock after purchasing an additional 2,700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Synopsys were worth $30,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNPS. Brighton Jones LLC increased its position in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Synopsys by 25.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 111 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Synopsys by 9.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,899 shares of the semiconductor company’s stock valued at $828,000 after purchasing an additional 158 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at about $547,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Synopsys by 92.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,260 shares of the semiconductor company’s stock valued at $1,398,000 after purchasing an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.1%

SNPS stock opened at $477.83 on Wednesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The company has a market capitalization of $88.76 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 5.27 and a beta of 1.10. The business has a 50 day simple moving average of $553.70 and a two-hundred day simple moving average of $510.20.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNPS shares. Robert W. Baird reaffirmed a “neutral” rating and set a $535.00 price target (down previously from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Synopsys in a research note on Saturday, September 27th. Citigroup downgraded Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Baird R W downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Finally, Piper Sandler cut their price objective on Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $575.31.

Insiders Place Their Bets

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the transaction, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. This represents a 32.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is owned by company insiders.

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.