Intelligence Driven Advisers LLC Has $218,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Intelligence Driven Advisers LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 22.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 430 shares of the semiconductor company’s stock after selling 124 shares during the period. Intelligence Driven Advisers LLC’s holdings in Synopsys were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Vanguard Group Inc. increased its stake in shares of Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after purchasing an additional 278,265 shares during the last quarter. Capital World Investors increased its position in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its position in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $11.21 during trading on Thursday, hitting $546.75. 116,164 shares of the stock were exchanged, compared to its average volume of 1,057,024. The company has a market capitalization of $83.99 billion, a price-to-earnings ratio of 57.88, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company’s fifty day simple moving average is $511.56 and its 200-day simple moving average is $545.39.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results 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. The firm 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%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Loop Capital initiated coverage on Synopsys in a report on Monday. They issued a “buy” rating and a $675.00 target price for the company. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Piper Sandler decreased their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys has an average rating of “Buy” and a consensus price target of $649.82.

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.