Great Valley Advisor Group Inc. Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Great Valley Advisor Group Inc. increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 34.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,837 shares of the semiconductor company’s stock after acquiring an additional 2,243 shares during the period. Great Valley Advisor Group Inc.’s holdings in Synopsys were worth $4,475,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Andina Capital Management LLC lifted its holdings in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC lifted its stake in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Hilltop National Bank grew its stake in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNPS shares. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler decreased 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Stock Performance

SNPS opened at $565.07 on Friday. The company’s 50-day simple moving average is $520.78 and its two-hundred day simple moving average is $545.66. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a market capitalization of $86.80 billion, a P/E ratio of 58.62, a P/E/G ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. Research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.