Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Swiss National Bank

Swiss National Bank lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 454,800 shares of the semiconductor company’s stock after acquiring an additional 3,200 shares during the period. Swiss National Bank’s holdings in Synopsys were worth $230,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SNPS. Concord Asset Management LLC VA boosted its holdings in shares of Synopsys by 12.4% in the 3rd quarter. Concord Asset Management LLC VA now owns 1,608 shares of the semiconductor company’s stock valued at $814,000 after buying an additional 178 shares during the period. 1776 Wealth LLC boosted its stake in Synopsys by 1.6% in the third quarter. 1776 Wealth LLC now owns 3,888 shares of the semiconductor company’s stock valued at $1,969,000 after acquiring an additional 60 shares during the period. Mizuho Securities USA LLC boosted its stake in Synopsys by 171.2% in the third quarter. Mizuho Securities USA LLC now owns 31,888 shares of the semiconductor company’s stock valued at $16,148,000 after acquiring an additional 20,131 shares during the period. First Long Island Investors LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $10,901,000. Finally, Valley Wealth Managers Inc. raised its position in shares of Synopsys by 78.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 2,155 shares of the semiconductor company’s stock worth $1,091,000 after purchasing an additional 945 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In related 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 sale, the chief executive officer now directly owns 62,568 shares in the company, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price 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 on the stock in a report on Thursday, October 24th. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. 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 research report on Thursday, August 22nd. Finally, Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Price Performance

NASDAQ SNPS opened at $520.75 on Monday. 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 $79.99 billion, a PE ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08. The company’s 50 day simple moving average is $514.14 and its 200 day simple moving average is $545.51.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating 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 quarter last year, the business posted $2.17 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts anticipate 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.