Field & Main Bank Purchases 76 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Field & Main Bank lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the semiconductor company’s stock after purchasing an additional 76 shares during the period. Field & Main Bank’s holdings in Synopsys were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Andina Capital Management LLC grew its holdings in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC grew its holdings in Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after buying an additional 18 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in 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. Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Hilltop National Bank grew its holdings in 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. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Price Performance

SNPS opened at $561.55 on Friday. The stock’s 50 day simple moving average is $507.77 and its 200 day simple moving average is $544.81. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The firm has a market cap of $86.26 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNPS shares. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Twelve investment 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 an average price target of $643.00.

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.