Champlain Investment Partners LLC Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Champlain Investment Partners LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,926 shares of the semiconductor company’s stock after purchasing an additional 35,685 shares during the period. Champlain Investment Partners LLC owned 0.18% of Synopsys worth $143,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. ORG Partners LLC lifted its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC grew its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys in the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 1.3 %

Shares of SNPS opened at $565.07 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a 50-day simple moving average of $520.78 and a 200-day simple moving average of $545.69. The company has a market capitalization of $86.80 billion, a PE ratio of 58.62, a P/E/G ratio of 3.40 and a beta of 1.08.

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, beating 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 the consensus estimate of $1.52 billion. During the same period last year, the firm earned $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. 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 report on Thursday, August 22nd. Piper Sandler dropped their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $644.36.

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.