IFM Investors Pty Ltd Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

IFM Investors Pty Ltd raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,698 shares of the semiconductor company’s stock after purchasing an additional 146 shares during the period. IFM Investors Pty Ltd’s holdings in Synopsys were worth $16,052,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Kingsview Wealth Management LLC acquired a new position in shares of Synopsys in the first quarter worth about $239,000. Concurrent Investment Advisors LLC acquired a new stake in Synopsys during the 1st quarter valued at approximately $218,000. Jacobs & Co. CA purchased a new stake in Synopsys during the 3rd quarter worth approximately $10,554,000. Vontobel Holding Ltd. raised its position in shares of Synopsys by 4.7% in the 3rd 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 in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after buying an additional 1,249 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNPS. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Mizuho began coverage on shares of Synopsys in a research note on Tuesday. They issued an “outperform” rating and a $650.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler cut 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. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has an average rating of “Buy” and an average price target of $643.00.

Synopsys Stock Up 0.2 %

Shares of NASDAQ:SNPS traded up $1.04 during trading on Thursday, hitting $494.45. 288,467 shares of the company traded hands, compared to its average volume of 1,071,813. The business’s fifty day moving average is $510.44 and its 200-day moving average is $546.23. The stock has a market capitalization of $75.95 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a one year low of $448.91 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 EPS. On average, analysts forecast 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.