Field & Main Bank Buys 76 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Field & Main Bank grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134 shares of the semiconductor company’s stock after acquiring an additional 76 shares during the period. Field & Main Bank’s holdings in Synopsys were worth $574,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SNPS. Kingsview Wealth Management LLC bought a new position in Synopsys during the first quarter worth about $239,000. Davidson Capital Management Inc. grew its holdings in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares during the period. Concurrent Investment Advisors LLC bought a new position in Synopsys during the first quarter worth about $218,000. Harvest Portfolios Group Inc. grew its holdings in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after purchasing an additional 1,496 shares during the period. Finally, Jacobs & Co. CA bought a new position in Synopsys during the third quarter worth about $10,554,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 2.1 %

NASDAQ SNPS opened at $561.55 on Friday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company has a 50 day moving average of $507.77 and a 200-day moving average of $544.81. The company has a market cap of $86.26 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.09% and a net margin of 24.06%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNPS shares. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective 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 restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus price target of $643.00.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.