KBC Group NV Has $79.59 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

KBC Group NV trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,177 shares of the semiconductor company's stock after selling 6,401 shares during the quarter. KBC Group NV owned approximately 0.10% of Synopsys worth $79,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SNPS. Vanguard Group Inc. raised its position in Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company's stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the last quarter. Capital World Investors grew its holdings 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 increased 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its stake in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB grew its stake 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 purchasing an additional 25,999 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price objective on the stock. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday. They set a "buy" rating and a $675.00 target price on the stock. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target for the company. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has an average rating of "Buy" and a consensus price target of $649.82.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Synopsys Stock Down 1.2 %

Shares of SNPS traded down $6.96 during trading hours on Thursday, reaching $551.00. The stock had a trading volume of 390,717 shares, compared to its average volume of 1,058,500. The company has a market cap of $84.64 billion, a P/E ratio of 57.57, a P/E/G ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a 50-day moving average of $511.56 and a 200 day moving average of $545.39.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $2.17 earnings per share. Synopsys's revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

About Synopsys

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.