5,000 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the semiconductor company's stock, valued at approximately $2,532,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors grew its position in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Synopsys by 39.6% in the 1st 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 period. Swedbank AB boosted its position in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock valued at $1,110,461,000 after buying an additional 25,999 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock worth $791,923,000 after buying an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new position in Synopsys in the third quarter valued at about $633,469,000. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

NASDAQ:SNPS traded up $7.54 during trading hours on Wednesday, hitting $541.56. 715,824 shares of the company were exchanged, compared to its average volume of 1,055,826. The company's 50 day moving average price is $516.71 and its 200-day moving average price is $545.49. The stock has a market capitalization of $83.19 billion, a price-to-earnings ratio of 55.40, a PEG ratio of 3.18 and a beta of 1.08. 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 announced 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. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SNPS shares. Piper Sandler cut 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. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price on the stock. Finally, Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $649.82.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company's stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company's stock.

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.