Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 918,699 shares of the semiconductor company’s stock after buying an additional 13,932 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Synopsys were worth $465,220,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter worth approximately $25,000. Tsfg LLC raised its holdings in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Synopsys in the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 3.0 %

SNPS stock opened at $557.73 on Friday. The company has a market cap 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. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company’s 50-day moving average price is $519.28 and its 200 day moving average price is $545.55.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Twelve research 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 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.