Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Swiss National Bank

Swiss National Bank lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 454,800 shares of the semiconductor company’s stock after acquiring an additional 3,200 shares during the period. Swiss National Bank owned 0.30% of Synopsys worth $230,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Andina Capital Management LLC raised its holdings in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC increased its stake in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Hilltop National Bank grew its holdings in Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 5.0 %

SNPS opened at $520.75 on Monday. The firm’s 50 day moving average is $514.14 and its 200-day moving average is $545.51. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market capitalization of $79.99 billion, a P/E ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. Equities analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SNPS. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler lowered their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $649.82.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys 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.