MQS Management LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

MQS Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,246 shares of the semiconductor company's stock, valued at approximately $631,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in shares of Synopsys during the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD lifted its position in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company's stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC grew its stake in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock worth $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Synopsys in the 2nd quarter worth $572,050,000. Finally, Capital World Investors raised its position in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNPS shares. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Loop Capital initiated coverage on Synopsys in a report on Monday. They set a "buy" rating and a $675.00 price objective on the stock. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $649.82.

Synopsys Trading Up 0.8 %

Shares of SNPS stock traded up $4.49 during mid-day trading on Wednesday, reaching $557.96. The stock had a trading volume of 635,786 shares, compared to its average volume of 1,061,534. The firm has a market capitalization of $85.71 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08. The stock's 50-day moving average price is $509.95 and its two-hundred day moving average price is $545.30. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

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