Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,417 shares of the semiconductor company's stock after purchasing an additional 1,554 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Synopsys were worth $12,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SNPS. Andina Capital Management LLC grew its holdings in Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company's stock valued at $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC grew its holdings in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company's stock valued at $232,000 after purchasing an additional 18 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in Synopsys by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company's stock worth $1,220,000 after purchasing an additional 20 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Finally, Hilltop National Bank lifted its position in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company's stock valued at $220,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm's stock in a transaction dated 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 $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys Trading Down 1.7 %

Shares of SNPS traded down $9.65 during trading hours on Thursday, hitting $548.31. The company had a trading volume of 796,174 shares, compared to its average volume of 1,060,331. The company has a market capitalization of $84.23 billion, a PE ratio of 57.57, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08. The company's fifty day moving average price is $511.56 and its two-hundred day moving average price is $545.39. Synopsys, Inc. has a one year low of $457.52 and a one year 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. Analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. Finally, Loop Capital initiated coverage on shares of Synopsys in a research note on Monday. They issued a "buy" rating and a $675.00 price objective for the company. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of "Buy" and an average 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.