Commerce Bank Has $5.08 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Commerce Bank raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,029 shares of the semiconductor company’s stock after purchasing an additional 383 shares during the quarter. Commerce Bank’s holdings in Synopsys were worth $5,079,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SNPS. CreativeOne Wealth LLC bought a new position in shares of Synopsys during the 1st quarter worth approximately $1,085,000. EP Wealth Advisors LLC raised its stake in shares of Synopsys by 17.6% during the first quarter. EP Wealth Advisors LLC now owns 1,400 shares of the semiconductor company’s stock worth $800,000 after buying an additional 210 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Synopsys by 4.7% in the 1st quarter. Advisors Asset Management Inc. now owns 7,942 shares of the semiconductor company’s stock valued at $4,539,000 after purchasing an additional 360 shares during the period. LRI Investments LLC bought a new position in Synopsys during the first quarter worth about $286,000. Finally, Beck Capital Management LLC bought a new position in Synopsys during the 1st quarter worth approximately $259,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 3.0 %

Synopsys stock opened at $557.73 on Friday. The company has a market capitalization of $85.67 billion, a P/E ratio of 57.86, a P/E/G ratio of 3.26 and a beta of 1.08. The firm has a 50 day moving average price of $519.28 and a 200-day moving average price of $545.55. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $2.17 earnings per share. Equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of research analyst reports. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler dropped their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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.