Quintet Private Bank Europe S.A. Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Quintet Private Bank Europe S.A. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 98,820.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 49,460 shares of the semiconductor company’s stock after acquiring an additional 49,410 shares during the quarter. Synopsys accounts for about 1.4% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 25th largest position. Quintet Private Bank Europe S.A.’s holdings in Synopsys were worth $25,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Partners LLC grew its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC increased its stake in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc purchased a new position in Synopsys in the 2nd quarter valued at about $30,000. Finally, Fortitude Family Office LLC grew its stake in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $5.90 during mid-day trading on Monday, hitting $524.30. The stock had a trading volume of 116,210 shares, compared to its average volume of 1,066,580. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $80.54 billion, a PE ratio of 53.78, a P/E/G ratio of 3.61 and a beta of 1.08. The company’s 50 day moving average is $504.96 and its 200-day moving average is $544.11.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion for 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%. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler reduced their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $643.00.

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.