BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 4,463 Shares of Synopsys, Inc. (NASDAQ:SNPS)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,252 shares of the semiconductor company’s stock after acquiring an additional 4,463 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Synopsys were worth $20,383,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SNPS. Davidson Capital Management Inc. boosted its holdings in shares of Synopsys by 33,828.6% in the 3rd 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. Harvest Portfolios Group Inc. grew its stake in Synopsys by 3.7% in 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 in the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter worth $633,469,000. Swiss National Bank grew its holdings in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Jacobs & Co. CA purchased a new position in Synopsys during the 3rd quarter valued at about $10,554,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $565.07 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market cap of $86.80 billion, a PE ratio of 58.62, a PEG ratio of 3.26 and a beta of 1.08. The business’s 50-day simple moving average is $520.78 and its two-hundred day simple moving average is $545.69.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SNPS shares. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $644.36.

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.