Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,385 shares of the semiconductor company’s stock after acquiring an additional 1,038 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Synopsys were worth $21,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. ORG Partners LLC grew its position in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter worth $25,000. Tsfg LLC grew its position in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys in the second quarter valued at about $30,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SNPS. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday. They set a “buy” rating and a $660.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $644.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.7 %

Shares of NASDAQ SNPS opened at $504.69 on Friday. The stock has a market capitalization of $77.53 billion, a price-to-earnings ratio of 52.35, a price-to-earnings-growth ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38. The firm has a 50-day moving average price of $512.37 and a 200 day moving average price of $548.41.

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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.