Parnassus Investments LLC Invests $633.47 Million in Synopsys, Inc. (NASDAQ:SNPS)

Parnassus Investments LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,250,950 shares of the semiconductor company's stock, valued at approximately $633,469,000. Parnassus Investments LLC owned approximately 0.81% of Synopsys at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its stake in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the second quarter valued at about $30,000. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the third quarter valued at about $25,000. Tsfg LLC grew its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after buying an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company's stock valued at $36,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

SNPS stock traded up $10.04 during mid-day trading on Tuesday, hitting $534.02. The company had a trading volume of 570,827 shares, compared to its average volume of 1,057,257. The firm has a market cap of $82.03 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock's fifty day moving average price is $515.34 and its two-hundred day moving average price is $545.52.

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

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 14.13 % 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNPS. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted 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. Finally, Needham & Company LLC restated a "buy" rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $649.82.

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.