Coalescence Partners Investment Management LP Buys 7,165 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Coalescence Partners Investment Management LP boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,777 shares of the semiconductor company's stock after acquiring an additional 7,165 shares during the period. Synopsys makes up approximately 4.9% of Coalescence Partners Investment Management LP's investment portfolio, making the stock its 10th largest holding. Coalescence Partners Investment Management LP's holdings in Synopsys were worth $11,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Synopsys by 4.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company's stock valued at $568,000 after purchasing an additional 46 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Synopsys by 44.8% in the third quarter. Los Angeles Capital Management LLC now owns 35,158 shares of the semiconductor company's stock valued at $17,804,000 after acquiring an additional 10,878 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Synopsys by 5.4% in the third quarter. Crossmark Global Holdings Inc. now owns 9,089 shares of the semiconductor company's stock valued at $4,602,000 after acquiring an additional 464 shares during the last quarter. First Personal Financial Services increased its position in Synopsys by 384.6% during the third quarter. First Personal Financial Services now owns 630 shares of the semiconductor company's stock worth $319,000 after buying an additional 500 shares during the last quarter. Finally, Field & Main Bank increased its position in Synopsys by 7.2% during the third quarter. Field & Main Bank now owns 1,134 shares of the semiconductor company's stock worth $574,000 after buying an additional 76 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNPS. JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a "buy" rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. Finally, Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $649.82.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of SNPS stock traded down $5.29 during trading on Monday, hitting $556.26. The company had a trading volume of 604,124 shares, compared to its average volume of 1,065,571. The firm has a market capitalization of $85.45 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The stock's 50-day moving average price is $507.77 and its 200 day moving average price is $545.05. Synopsys, Inc. has a one year low of $457.52 and a one year 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 for the quarter, topping the consensus estimate 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 return on equity of 22.09% and a net margin of 24.06%. Synopsys's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.17 EPS. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share 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.