Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,834 shares of the semiconductor company's stock after purchasing an additional 12,630 shares during the period. Victory Capital Management Inc. owned 0.15% of Synopsys worth $114,360,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNPS. ORG Partners LLC raised its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. acquired a new stake in Synopsys during the third quarter worth $25,000. Tsfg LLC raised its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc acquired a new position in shares of Synopsys in the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNPS shares. Loop Capital started coverage on shares of Synopsys in a report on Monday. They issued a "buy" rating and a $675.00 price objective on the stock. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective on the stock. Piper Sandler dropped their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Robert W. Baird upped their price target on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $649.82.

Insider Activity at Synopsys

In other Synopsys 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Up 0.8 %

SNPS traded up $4.49 on Wednesday, hitting $557.96. 635,847 shares of the company were exchanged, compared to its average volume of 1,061,534. The company has a market cap of $85.71 billion, a price-to-earnings ratio of 58.29, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08. The firm has a 50-day moving average price of $509.95 and a two-hundred day moving average price of $545.30. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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

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.