Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,254 shares of the semiconductor company’s stock after buying an additional 844 shares during the quarter. Empowered Funds LLC’s holdings in Synopsys were worth $3,673,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNPS. Swedbank AB acquired a new position in shares of Synopsys in the 1st quarter worth approximately $1,051,637,000. Price T Rowe Associates Inc. MD raised its position in 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 during the period. Sustainable Growth Advisers LP acquired a new position in Synopsys during the second quarter worth $572,050,000. Capital World Investors boosted its position in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $649.82.

Synopsys Trading Up 0.6 %

Shares of SNPS stock opened at $523.98 on Tuesday. The company has a market cap of $80.49 billion, a P/E ratio of 54.35, a PEG ratio of 3.18 and a beta of 1.08. The firm has a fifty day moving average price of $515.34 and a 200 day moving average price of $545.52. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insiders Place Their Bets

In other Synopsys 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 transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.