Sentry Investment Management LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sentry Investment Management LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,423 shares of the semiconductor company’s stock after acquiring an additional 74 shares during the quarter. Sentry Investment Management LLC’s holdings in Synopsys were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Impax Asset Management Group plc boosted its holdings in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Quintet Private Bank Europe S.A. grew its stake in Synopsys by 98,820.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,460 shares of the semiconductor company’s stock valued at $25,046,000 after buying an additional 49,410 shares in the last quarter. PDS Planning Inc raised its holdings in Synopsys by 2.4% during the 3rd quarter. PDS Planning Inc now owns 1,040 shares of the semiconductor company’s stock valued at $527,000 after acquiring an additional 24 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Synopsys by 0.6% during the third quarter. QRG Capital Management Inc. now owns 43,739 shares of the semiconductor company’s stock worth $22,149,000 after acquiring an additional 250 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SNPS shares. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $643.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Up 1.2 %

SNPS opened at $524.52 on Tuesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The business’s 50-day moving average price is $504.93 and its 200-day moving average price is $544.14. The company has a market cap of $80.57 billion, a P/E ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the firm earned $2.17 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.