Los Angeles Capital Management LLC Has $17.80 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Los Angeles Capital Management LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,158 shares of the semiconductor company's stock after acquiring an additional 10,878 shares during the period. Los Angeles Capital Management LLC's holdings in Synopsys were worth $17,804,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Synopsys in the 1st quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD raised its position in Synopsys by 39.6% in the first 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC boosted its holdings in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock worth $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys in the second quarter worth about $572,050,000. Finally, Capital World Investors raised its holdings in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Loop Capital began coverage on Synopsys in a report on Monday. They set a "buy" rating and a $675.00 price target on the stock. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has a consensus rating of "Buy" and a consensus target price of $649.82.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company's stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company's stock.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $5.29 during trading hours on Monday, hitting $556.26. 604,124 shares of the stock were exchanged, 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 P/E/G ratio of 3.42 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company's 50 day moving average is $507.77 and its 200 day moving average is $545.05.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business posted $2.17 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. Research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal 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.