Synopsys, Inc. (NASDAQ:SNPS) Position Raised by Swiss National Bank

Swiss National Bank raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 454,800 shares of the semiconductor company's stock after buying an additional 3,200 shares during the quarter. Swiss National Bank owned about 0.30% of Synopsys worth $230,306,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new stake in shares of Synopsys during the first quarter worth $239,000. Davidson Capital Management Inc. boosted its holdings in shares of Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock worth $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Harvest Portfolios Group Inc. boosted its holdings in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock valued at $21,330,000 after acquiring an additional 1,496 shares during the last quarter. Jacobs & Co. CA acquired a new position in Synopsys in the third quarter valued at $10,554,000. Finally, Vontobel Holding Ltd. boosted its holdings in Synopsys by 4.7% in the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company's stock valued at $488,796,000 after acquiring an additional 43,228 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 0.6 %

Synopsys stock traded up $3.23 during midday trading on Monday, hitting $523.98. The stock had a trading volume of 894,831 shares, compared to its average volume of 1,059,438. The stock has a market cap of $80.49 billion, a P/E ratio of 54.02, a P/E/G 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 business has a fifty day moving average price of $514.14 and a 200 day moving average price of $545.51.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its 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 return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. Synopsys's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler cut their price objective on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $649.82.

Insider Buying and Selling at Synopsys

In other 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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Company 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.