Quest Partners LLC Acquires New Position in Synopsys, Inc. (NASDAQ:SNPS)

Quest Partners LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,530 shares of the semiconductor company’s stock, valued at approximately $1,788,000.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Synopsys in the 1st quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 39.6% during 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 during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the 2nd quarter worth about $572,050,000. Capital World Investors increased its stake in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 of the company’s stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.6 %

Shares of SNPS opened at $523.98 on Tuesday. The company has a 50 day moving average of $515.34 and a 200-day moving average of $545.52. The stock has a market capitalization of $80.49 billion, a P/E ratio of 54.35, a P/E/G ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $2.17 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus price target of $649.82.

About Synopsys

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.