Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 707,976 shares of the semiconductor company's stock after purchasing an additional 25,645 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.46% of Synopsys worth $358,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC boosted its stake in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock worth $25,000 after buying an additional 36 shares during the period. Chris Bulman Inc bought a new stake in Synopsys in the second quarter worth about $30,000. Pacifica Partners Inc. bought a new position in shares of Synopsys during the third quarter valued at approximately $25,000. Tsfg LLC lifted its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNPS. 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. Loop Capital began coverage on shares of Synopsys in a research note on Monday. They set a "buy" rating and a $675.00 price target for the company. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $649.82.

Synopsys Trading Down 0.1 %

Shares of NASDAQ:SNPS traded down $0.58 on Tuesday, hitting $555.68. 291,276 shares of the company were exchanged, compared to its average volume of 1,062,036. The stock's 50 day moving average price is $508.51 and its 200 day moving average price is $545.23. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market capitalization of $85.36 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 business 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 company earned $2.17 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is 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.