Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by National Pension Service

National Pension Service grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,365 shares of the semiconductor company’s stock after purchasing an additional 36,600 shares during the quarter. National Pension Service owned 0.23% of Synopsys worth $182,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Andina Capital Management LLC increased its position in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC increased its position in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Synopsys by 0.9% during the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 20 shares during the last quarter. Hilltop National Bank increased its position in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its position in shares of Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of a number of analyst reports. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler lowered their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $643.00.

Synopsys Trading Up 1.2 %

Shares of NASDAQ SNPS opened at $524.52 on Tuesday. The stock has a 50 day simple moving average of $504.93 and a 200-day simple moving average of $544.14. The company has a market cap of $80.57 billion, a PE ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $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 is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

About Synopsys

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.