Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,536 shares of the semiconductor company's stock after purchasing an additional 6,374 shares during the quarter. CIBC Asset Management Inc's holdings in Synopsys were worth $35,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors increased its holdings in Synopsys by 12.5% in 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 during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company's stock worth $3,050,441,000 after buying an additional 1,514,449 shares during the last quarter. GQG Partners LLC increased its stake in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Swedbank AB lifted its stake in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock worth $1,110,461,000 after buying an additional 25,999 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after buying an additional 335,993 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Trading Down 5.0 %

Shares of SNPS traded down $27.56 during midday trading on Friday, reaching $520.75. The stock had a trading volume of 1,025,738 shares, compared to its average volume of 1,060,179. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company's 50-day moving average is $514.14 and its 200 day moving average is $545.25. The company has a market capitalization of $79.99 billion, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 earnings per share. Research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent analyst reports. 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. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price for the company. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Piper Sandler reduced their price objective on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $649.82.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company's 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 directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Synopsys Company 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.