Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by PFG Advisors

PFG Advisors lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,986 shares of the semiconductor company’s stock after acquiring an additional 224 shares during the quarter. PFG Advisors’ holdings in Synopsys were worth $2,525,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after acquiring an additional 278,265 shares during the last quarter. Capital World Investors increased its stake in Synopsys by 12.5% during the 1st 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 stake in Synopsys by 39.6% during the 1st 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 period. GQG Partners LLC increased its stake in Synopsys by 91.6% during the 1st 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 during the period. Finally, Swedbank AB increased its stake in Synopsys by 1.4% during the 2nd 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 during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent research reports. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday. They issued a “buy” rating and a $660.00 price objective on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $644.00.

Synopsys Price Performance

NASDAQ SNPS opened at $501.35 on Thursday. The firm’s fifty day moving average price is $512.58 and its 200 day moving average price is $548.71. The company has a market capitalization of $76.81 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for 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 company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $2.17 EPS. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.