Premier Fund Managers Ltd Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Premier Fund Managers Ltd lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,317 shares of the semiconductor company's stock after purchasing an additional 3,162 shares during the quarter. Premier Fund Managers Ltd's holdings in Synopsys were worth $8,377,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SNPS. ORG Partners LLC lifted its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in Synopsys in the 3rd quarter valued at approximately $25,000. Tsfg LLC increased its position in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys during the 2nd quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SNPS shares. Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Robert W. Baird increased their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target for the company. Rosenblatt Securities restated a "buy" rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $649.82.

Synopsys Stock Up 0.5 %

Shares of SNPS traded up $2.44 during trading hours on Wednesday, reaching $536.46. 152,516 shares of the company traded hands, compared to its average volume of 1,053,240. The stock has a market capitalization of $82.41 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The stock has a fifty day simple moving average of $516.71 and a 200 day simple moving average of $545.49. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.17 EPS. Research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In related 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 directly owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

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.