Assenagon Asset Management S.A. Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Assenagon Asset Management S.A. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,895 shares of the semiconductor company’s stock after buying an additional 37,422 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Synopsys worth $102,238,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC lifted its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. purchased a new stake in Synopsys in the 3rd quarter valued at $25,000. Tsfg LLC raised its position in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new stake in Synopsys in the 2nd quarter valued at $30,000. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during 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 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 transaction of $5,701,189.77. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.2 %

Shares of NASDAQ:SNPS traded up $1.04 on Thursday, reaching $494.45. 288,467 shares of the company were exchanged, compared to its average volume of 1,071,813. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The firm has a market cap of $75.95 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 3.44 and a beta of 1.08. The company has a 50-day moving average of $510.44 and a 200-day moving average of $546.23.

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

Analyst Upgrades and Downgrades

SNPS has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday. They issued an “outperform” rating and a $650.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $643.00.

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.