Man Group plc Makes New $55.90 Million Investment in Synopsys, Inc. $SNPS

Man Group plc purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 125,316 shares of the semiconductor company’s stock, valued at approximately $55,900,000. Man Group plc owned 0.07% of Synopsys at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Synopsys in the second quarter valued at $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Synopsys in the 2nd quarter valued at about $747,400,000. Norges Bank acquired a new position in Synopsys during the fourth quarter worth about $730,197,000. Bank of New York Mellon Corp acquired a new position in Synopsys during the second quarter worth about $692,074,000. Finally, State Street Corp lifted its holdings in shares of Synopsys by 20.6% in the third quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock valued at $4,322,273,000 after purchasing an additional 1,493,912 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 14,603 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 75,020 shares in the company, valued at $34,431,179.20. This represents a 16.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 14,358 shares in the company, valued at $6,461,387.16. This 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. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent research reports. BNP Paribas Exane raised their price objective on shares of Synopsys from $425.00 to $450.00 and gave the stock an “underperform” rating in a research note on Thursday, May 28th. Piper Sandler upgraded Synopsys from a “neutral” rating to an “overweight” rating and increased their target price for the company from $450.00 to $550.00 in a report on Tuesday, June 23rd. Berenberg Bank set a $633.00 price target on Synopsys in a report on Wednesday, May 27th. Zacks Research downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Finally, Bank of America increased their price objective on Synopsys from $515.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $563.59.

Synopsys Price Performance

SNPS stock opened at $408.79 on Wednesday. Synopsys, Inc. has a 52-week low of $366.00 and a 52-week high of $615.79. The stock’s fifty day simple moving average is $417.74 and its 200-day simple moving average is $439.85. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $78.28 billion, a price-to-earnings ratio of 94.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.23.

Synopsys (NASDAQ:SNPS) last released its 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. Synopsys had a return on equity of 5.83% and a net margin of 8.91%.The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm posted $3.67 earnings per share. The business’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

About Synopsys

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.