Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Bedrijfstakpensioenfonds Voor DE Media PNO

Bedrijfstakpensioenfonds Voor DE Media PNO boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 22.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,000 shares of the semiconductor company’s stock after purchasing an additional 7,500 shares during the period. Synopsys makes up about 2.4% of Bedrijfstakpensioenfonds Voor DE Media PNO’s investment portfolio, making the stock its 14th biggest holding. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Synopsys were worth $20,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its position in shares of Synopsys by 400.0% during the first quarter. RFG Advisory LLC now owns 2,105 shares of the semiconductor company’s stock worth $1,203,000 after purchasing an additional 1,684 shares in the last quarter. &PARTNERS purchased a new position in Synopsys in the 1st quarter valued at about $437,000. Cooper Financial Group boosted its position in Synopsys by 3.9% in the 1st quarter. Cooper Financial Group now owns 582 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 22 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Synopsys by 7.7% during the first quarter. Ballentine Partners LLC now owns 773 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 55 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Synopsys in the first quarter worth about $65,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted 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. Finally, KeyCorp increased their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $644.00.

Synopsys Stock Down 0.5 %

SNPS stock traded down $2.71 during midday trading on Monday, reaching $504.32. The company had a trading volume of 290,423 shares, compared to its average volume of 1,076,607. The firm has a market capitalization of $77.47 billion, a PE ratio of 52.30, a P/E/G ratio of 3.47 and a beta of 1.08. The stock has a 50 day moving average price of $512.02 and a 200 day moving average price of $547.55. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38.

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

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

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.