Synopsys, Inc. (NASDAQ:SNPS) Position Raised by Banco Santander S.A.

Banco Santander S.A. grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 283.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,363 shares of the semiconductor company's stock after acquiring an additional 1,008 shares during the quarter. Banco Santander S.A.'s holdings in Synopsys were worth $690,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Synopsys during the 1st quarter valued at $1,051,637,000. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth about $633,469,000. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the second quarter worth about $572,050,000. Van ECK Associates Corp boosted its position in shares of Synopsys by 26.5% in the third 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 period. Finally, Impax Asset Management Group plc grew its stake in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock valued at $248,497,000 after buying an additional 267,836 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 1.3 %

NASDAQ SNPS traded up $7.13 on Friday, hitting $565.07. 899,970 shares of the stock traded hands, compared to its average volume of 862,985. The company has a market capitalization of $86.80 billion, a P/E ratio of 58.62, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The stock has a 50-day moving average of $520.78 and a 200 day moving average of $545.69. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the business posted $2.17 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNPS. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler lowered their price target on shares of 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. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $644.36.

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.