Veracity Capital LLC Has $630,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Veracity Capital LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,244 shares of the semiconductor company’s stock after purchasing an additional 187 shares during the period. Veracity Capital LLC’s holdings in Synopsys were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new position in shares of Synopsys in the 1st quarter worth approximately $239,000. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys in the 1st quarter worth approximately $218,000. Jacobs & Co. CA purchased a new position in shares of Synopsys in the 3rd quarter worth approximately $10,554,000. Vontobel Holding Ltd. boosted its stake in shares of Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after buying an additional 43,228 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average target price of $644.00.

Synopsys Price Performance

Shares of SNPS stock opened at $507.03 on Friday. The company’s fifty day simple moving average is $512.02 and its two-hundred day simple moving average is $547.77. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 55.11, a PEG ratio of 3.73 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 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 analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 earnings per share. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.