Curi RMB Capital LLC Purchases 1,094 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Curi RMB Capital LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,641 shares of the semiconductor company's stock after purchasing an additional 1,094 shares during the quarter. Synopsys comprises 1.0% of Curi RMB Capital LLC's portfolio, making the stock its 21st largest holding. Curi RMB Capital LLC owned about 0.06% of Synopsys worth $45,393,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNPS. Bouvel Investment Partners LLC boosted its position in shares of Synopsys by 0.8% in the 3rd quarter. Bouvel Investment Partners LLC now owns 7,865 shares of the semiconductor company's stock valued at $3,983,000 after purchasing an additional 63 shares during the period. ROI Financial Advisors LLC acquired a new position in shares of Synopsys in the third quarter worth about $330,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Synopsys by 19.1% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 2,005 shares of the semiconductor company's stock worth $1,015,000 after acquiring an additional 322 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Synopsys by 6.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 24,417 shares of the semiconductor company's stock valued at $12,365,000 after acquiring an additional 1,554 shares during the period. Finally, MQS Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at approximately $631,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price on the stock. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $649.82.

Synopsys Price Performance

Shares of SNPS traded down $9.65 on Thursday, hitting $548.31. The company's stock had a trading volume of 790,014 shares, compared to its average volume of 1,060,307. The company has a 50 day moving average price of $511.56 and a 200 day moving average price of $545.39. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market capitalization of $84.23 billion, a PE ratio of 57.57, a PEG ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm earned $2.17 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

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.