National Pension Service Acquires 36,600 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Pension Service raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.3% in the third quarter, Holdings Channel reports. The fund owned 360,365 shares of the semiconductor company’s stock after buying an additional 36,600 shares during the quarter. National Pension Service’s holdings in Synopsys were worth $182,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Andina Capital Management LLC lifted its stake in shares of Synopsys by 2.8% in the second 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 during the period. Cascade Financial Partners LLC raised its position in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in shares of Synopsys by 0.9% during the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 20 shares in the last quarter. Hilltop National Bank increased its holdings in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after buying an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. 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 Price Performance

Synopsys stock opened at $524.52 on Tuesday. The firm has a market capitalization of $80.57 billion, a PE ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. The company’s 50-day moving average is $504.93 and its 200-day moving average is $544.14. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. As a group, analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $643.00.

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.