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:SNPSFree Report) 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:SNPSGet Free Report) 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.

View Our Latest Stock Analysis on SNPS

Synopsys Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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