Davidson Capital Management Inc. Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Davidson Capital Management Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 33,828.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,750 shares of the semiconductor company's stock after buying an additional 4,736 shares during the period. Davidson Capital Management Inc.'s holdings in Synopsys were worth $2,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Andina Capital Management LLC grew its stake in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company's stock valued at $395,000 after purchasing an additional 18 shares during the period. Cascade Financial Partners LLC raised its stake in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company's stock worth $232,000 after buying an additional 18 shares during the period. Monument Capital Management lifted its position in shares of Synopsys by 1.1% during the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company's stock valued at $1,074,000 after buying an additional 20 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company's stock worth $1,220,000 after acquiring an additional 20 shares in the last quarter. Finally, Hilltop National Bank lifted its holdings in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company's stock valued at $220,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm's stock in a transaction 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Synopsys Trading Up 6.7 %

Shares of SNPS traded up $33.03 during midday trading on Tuesday, reaching $529.21. 1,266,927 shares of the stock were exchanged, compared to its average volume of 1,070,391. Synopsys, Inc. has a 52 week low of $455.00 and a 52 week high of $629.38. The company's 50 day moving average is $507.19 and its two-hundred day moving average is $544.62. The company has a market capitalization of $81.29 billion, a P/E ratio of 54.33, a PEG ratio of 3.52 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNPS shares. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. 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. JPMorgan Chase & Co. increased their target price on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $643.00.

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.