Assenagon Asset Management S.A. Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Assenagon Asset Management S.A. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 22.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 201,895 shares of the semiconductor company’s stock after purchasing an additional 37,422 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Synopsys were worth $102,238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd lifted its holdings in Synopsys by 0.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 31,698 shares of the semiconductor company’s stock valued at $16,052,000 after purchasing an additional 146 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Synopsys by 39.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,243 shares of the semiconductor company’s stock valued at $2,655,000 after purchasing an additional 1,477 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Synopsys by 57,616.1% in the 3rd quarter. International Assets Investment Management LLC now owns 239,522 shares of the semiconductor company’s stock valued at $121,292,000 after purchasing an additional 239,107 shares in the last quarter. Greenleaf Trust lifted its holdings in Synopsys by 19.2% in the 3rd quarter. Greenleaf Trust now owns 6,343 shares of the semiconductor company’s stock valued at $3,212,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Synopsys by 31.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,032 shares of the semiconductor company’s stock valued at $523,000 after purchasing an additional 245 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $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 is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Performance

SNPS traded up $1.04 on Thursday, reaching $494.45. 288,467 shares of the company’s stock were exchanged, compared to its average volume of 1,071,813. The company’s 50 day moving average is $510.44 and its 200-day moving average is $546.23. The company has a market cap of $75.95 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

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 net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNPS. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Piper Sandler cut 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. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday. Finally, Mizuho initiated coverage on shares of Synopsys in a report on Tuesday. They set an “outperform” rating and a $650.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.