AustralianSuper Pty Ltd Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

AustralianSuper Pty Ltd lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 23.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,930 shares of the semiconductor company’s stock after buying an additional 362 shares during the period. AustralianSuper Pty Ltd’s holdings in Synopsys were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in shares of Synopsys during the 3rd quarter valued at about $25,000. Tsfg LLC lifted its stake in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys in the second quarter worth approximately $30,000. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNPS shares. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Finally, Piper Sandler lowered 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. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $643.00.

Synopsys Trading Down 4.3 %

NASDAQ:SNPS opened at $513.61 on Friday. The stock has a 50-day moving average price of $505.38 and a 200 day moving average price of $544.15. The stock has a market capitalization of $78.90 billion, a P/E ratio of 53.28, a P/E/G ratio of 3.77 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm posted $2.17 EPS. The company’s revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal 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.