Lecap Asset Management Ltd. Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Lecap Asset Management Ltd. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,075 shares of the semiconductor company's stock, valued at approximately $2,570,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company's stock worth $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors boosted its stake in 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 buying an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 during the last quarter. GQG Partners LLC boosted its position 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 valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock worth $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNPS shares. Mizuho started coverage on shares of Synopsys in a report on Tuesday. They set an "outperform" rating and a $650.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of "Buy" and a consensus price target of $644.55.

Synopsys Stock Performance

Shares of SNPS opened at $502.41 on Wednesday. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38. The company has a market capitalization of $77.18 billion, a PE ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The company's 50 day moving average price is $511.19 and its 200 day moving average price is $546.60.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $2.17 earnings per share. Synopsys's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm'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 transaction, the chief executive officer now owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

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.

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