Catalina Capital Group LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Catalina Capital Group LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 779 shares of the semiconductor company’s stock after purchasing an additional 30 shares during the period. Catalina Capital Group LLC’s holdings in Synopsys were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors raised its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its stake in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB raised its stake in Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Stock Up 6.0 %

Shares of SNPS opened at $553.15 on Thursday. The company has a market capitalization of $84.97 billion, a P/E ratio of 57.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08. The firm has a 50 day moving average of $505.80 and a 200 day moving average of $544.28. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 earnings per share. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNPS shares. Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Finally, Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $643.00.

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.