Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 98,820.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,460 shares of the semiconductor company’s stock after acquiring an additional 49,410 shares during the period. Synopsys makes up 1.4% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 25th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Synopsys were worth $25,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its stake 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 during the period. Pacifica Partners Inc. acquired a new position in Synopsys during the 3rd quarter worth approximately $25,000. Tsfg LLC raised its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Synopsys in the 2nd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% in 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 in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.1 %

Shares of SNPS traded up $5.90 during trading hours on Monday, reaching $524.30. 116,210 shares of the company traded hands, compared to its average volume of 1,066,580. The stock has a market capitalization of $80.54 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 3.61 and a beta of 1.08. The stock has a fifty day simple moving average of $504.96 and a 200 day simple moving average of $544.11. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Piper Sandler dropped their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $643.00.

Synopsys 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.