STF Management LP Has $1.12 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

STF Management LP lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,211 shares of the semiconductor company’s stock after selling 216 shares during the quarter. STF Management LP’s holdings in Synopsys were worth $1,120,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SNPS. Citigroup Inc. increased its holdings in shares of Synopsys by 39.7% in the third quarter. Citigroup Inc. now owns 302,866 shares of the semiconductor company’s stock worth $153,368,000 after acquiring an additional 86,058 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Synopsys by 22.9% in the third quarter. Raymond James Trust N.A. now owns 1,475 shares of the semiconductor company’s stock worth $747,000 after acquiring an additional 275 shares in the last quarter. AlphaCore Capital LLC increased its holdings in shares of Synopsys by 13.3% in the third quarter. AlphaCore Capital LLC now owns 5,450 shares of the semiconductor company’s stock worth $2,760,000 after acquiring an additional 640 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Synopsys by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 918,699 shares of the semiconductor company’s stock worth $465,220,000 after acquiring an additional 13,932 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 3.0 %

NASDAQ:SNPS opened at $557.73 on Friday. The stock has a market cap of $85.67 billion, a P/E ratio of 57.86, a PEG ratio of 3.26 and a beta of 1.08. The stock has a 50 day simple moving average of $519.28 and a 200 day simple moving average of $545.55. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNPS. JPMorgan Chase & Co. increased 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. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company started coverage on Synopsys in a report on Friday. They set an “equal weight” rating and a $570.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $644.36.

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.