Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Custom Index Systems LLC

Custom Index Systems LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 72.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,065 shares of the semiconductor company’s stock after buying an additional 866 shares during the period. Custom Index Systems LLC’s holdings in Synopsys were worth $1,046,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares during the period. Capital World Investors boosted its holdings in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Finally, Swedbank AB lifted its position in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after acquiring an additional 25,999 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Needham & Company LLC reiterated 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. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus target price of $643.00.

Synopsys Trading Up 1.3 %

NASDAQ SNPS traded up $6.33 during trading on Friday, reaching $501.58. The company’s stock had a trading volume of 639,879 shares, compared to its average volume of 1,071,530. The stock has a market capitalization of $77.05 billion, a PE ratio of 52.03, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The business has a 50-day moving average price of $508.43 and a 200-day moving average price of $545.19.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys 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.