Impax Asset Management Group plc Acquires 267,836 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Impax Asset Management Group plc grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 120.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 490,723 shares of the semiconductor company’s stock after purchasing an additional 267,836 shares during the period. Impax Asset Management Group plc owned approximately 0.32% of Synopsys worth $248,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Andina Capital Management LLC raised its position in shares of Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the period. Cascade Financial Partners LLC raised its position in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Synopsys by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 20 shares during the period. Hilltop National Bank raised its position in shares of Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares during the period. Finally, Green Alpha Advisors LLC raised its position in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $643.00.

Synopsys Price Performance

SNPS stock opened at $524.52 on Tuesday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market cap of $80.57 billion, a PE ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. The firm has a 50 day simple moving average of $504.93 and a two-hundred day simple moving average of $544.14.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.