Jackson Square Capital LLC Has $3.21 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Jackson Square Capital LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,334 shares of the semiconductor company's stock after selling 5,038 shares during the period. Jackson Square Capital LLC's holdings in Synopsys were worth $3,207,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC bought a new position in Synopsys in the first quarter worth about $239,000. Davidson Capital Management Inc. lifted its holdings in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock worth $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Synopsys in the first quarter worth about $218,000. Jacobs & Co. CA bought a new position in Synopsys in the third quarter worth about $10,554,000. Finally, Harvest Portfolios Group Inc. lifted its holdings in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock worth $21,330,000 after acquiring an additional 1,496 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $20.44 during midday trading on Thursday, reaching $573.59. The company had a trading volume of 1,097,618 shares, compared to its average volume of 1,068,097. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market cap of $88.11 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08. The company has a fifty day simple moving average of $505.80 and a two-hundred day simple moving average of $544.28.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted $2.17 EPS. Synopsys's revenue for the quarter was up 12.7% on a year-over-year basis. Analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm's 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 in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNPS. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target on the stock. Finally, Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of "Buy" and an average price target of $643.00.

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.