Quest Partners LLC Takes $1.79 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Quest Partners LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,530 shares of the semiconductor company's stock, valued at approximately $1,788,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Synopsys by 12.5% in 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 purchasing an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. Swedbank AB lifted its holdings in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock valued at $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. Van ECK Associates Corp raised its holdings in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Synopsys by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company's stock worth $603,016,000 after acquiring an additional 63,966 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS traded up $10.04 during trading on Tuesday, reaching $534.02. The stock had a trading volume of 570,653 shares, compared to its average volume of 1,057,257. The stock has a market cap of $82.03 billion, a PE ratio of 54.35, a PEG ratio of 3.18 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 business has a 50-day moving average of $515.34 and a 200-day moving average of $545.52.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data 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 net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business posted $2.17 earnings per share. Synopsys's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 completion of the sale, the chief executive officer now owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of several analyst reports. Piper Sandler dropped their target price on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price for the company. Rosenblatt Securities restated a "buy" rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised 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. Finally, Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 target price for the company. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of "Buy" and a consensus price target of $649.82.

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.