Edgewood Management LLC Acquires 487,025 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Edgewood Management LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 18.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,069,848 shares of the semiconductor company’s stock after acquiring an additional 487,025 shares during the quarter. Synopsys accounts for approximately 4.2% of Edgewood Management LLC’s holdings, making the stock its 15th biggest holding. Edgewood Management LLC’s holdings in Synopsys were worth $1,554,540,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC raised its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter valued at about $25,000. Tsfg LLC lifted its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc bought a new stake in shares of Synopsys in the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Finally, Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Price Performance

NASDAQ:SNPS opened at $557.73 on Friday. The company’s fifty day moving average price is $519.28 and its 200-day moving average price is $545.55. 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 $85.67 billion, a P/E ratio of 57.86, a PEG ratio of 3.26 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.