KBC Group NV Has $79.59 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

KBC Group NV trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 157,177 shares of the semiconductor company’s stock after selling 6,401 shares during the period. KBC Group NV’s holdings in Synopsys were worth $79,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SNPS. ORG Partners LLC raised its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Synopsys during the second quarter worth approximately $30,000. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $557.96 on Thursday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $85.71 billion, a PE ratio of 57.88, a P/E/G ratio of 3.37 and a beta of 1.08. The firm’s 50 day simple moving average is $509.95 and its 200 day simple moving average is $545.30.

Synopsys (NASDAQ:SNPS) last issued 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

SNPS has been the subject of several analyst reports. Loop Capital assumed coverage on Synopsys in a report on Monday. They issued a “buy” rating and a $675.00 price objective for the company. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The stock was 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 directly owns 62,568 shares of the company’s stock, valued at $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 is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.