E Fund Management Hong Kong Co. Ltd. Acquires 240 Shares of Synopsys, Inc. (NASDAQ:SNPS)

E Fund Management Hong Kong Co. Ltd. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8,000.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243 shares of the semiconductor company’s stock after buying an additional 240 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Synopsys were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys in the first quarter valued at about $239,000. Davidson Capital Management Inc. raised its holdings in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Synopsys in the first quarter valued at about $218,000. Jacobs & Co. CA purchased a new stake in shares of Synopsys in the third quarter valued at about $10,554,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Synopsys by 4.7% in the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after purchasing an additional 43,228 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler decreased 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. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Robert W. Baird raised their price objective 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average target price of $643.00.

Synopsys Trading Up 1.4 %

SNPS stock opened at $536.42 on Thursday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $82.40 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. The firm has a 50 day moving average of $506.07 and a 200-day moving average of $544.36.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business posted $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current 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.