Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.8% during the third quarter, Holdings Channel reports. The firm owned 24,417 shares of the semiconductor company’s stock after acquiring an additional 1,554 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Synopsys were worth $12,365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter worth approximately $239,000. Davidson Capital Management Inc. grew its position in shares of Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $218,000. Harvest Portfolios Group Inc. raised its position in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Jacobs & Co. CA acquired a new stake in Synopsys during the 3rd quarter worth $10,554,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Up 0.8 %

Shares of Synopsys stock opened at $557.96 on Thursday. The company has a 50-day moving average of $509.95 and a two-hundred day moving average of $545.30. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market cap of $85.71 billion, a PE ratio of 57.88, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its 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 return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective 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. Piper Sandler reduced their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lifted 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. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Finally, Loop Capital started coverage on shares of Synopsys in a research report on Monday. They issued a “buy” rating and a $675.00 price objective on the stock. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Company 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.