Kornitzer Capital Management Inc. KS Has $8.70 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Kornitzer Capital Management Inc. KS boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 17,176 shares of the semiconductor company’s stock after acquiring an additional 725 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Synopsys were worth $8,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SNPS. Swedbank AB bought a new stake in Synopsys during the first quarter worth approximately $1,051,637,000. Price T Rowe Associates Inc. MD raised its stake in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its stake in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys in the second quarter valued at $572,050,000. Finally, Capital World Investors raised its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNPS. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $643.00.

Synopsys Price Performance

SNPS stock opened at $573.59 on Friday. The company has a 50 day moving average price of $505.80 and a 200 day moving average price of $544.28. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a market capitalization of $88.11 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $2.17 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.