Charles Schwab Investment Management Inc. Acquires 13,932 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Charles Schwab Investment Management Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 918,699 shares of the semiconductor company’s stock after buying an additional 13,932 shares during the period. Charles Schwab Investment Management Inc. owned about 0.60% of Synopsys worth $465,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC grew its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter worth $25,000. Tsfg LLC grew its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new position in Synopsys in the second quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of Synopsys stock opened at $557.73 on Friday. The firm has a 50-day simple moving average of $519.28 and a two-hundred day simple moving average of $545.55. The company has a market cap of $85.67 billion, a P/E ratio of 57.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. 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 data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler dropped 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, October 24th. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average price target of $649.82.

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.