Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,739 shares of the semiconductor company’s stock after acquiring an additional 250 shares during the period. QRG Capital Management Inc.’s holdings in Synopsys were worth $22,149,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SNPS. Asset Management One Co. Ltd. boosted its position in shares of Synopsys by 1.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 71,538 shares of the semiconductor company’s stock worth $36,226,000 after purchasing an additional 1,125 shares during the period. National Pension Service raised its stake in Synopsys by 11.3% during the 3rd quarter. National Pension Service now owns 360,365 shares of the semiconductor company’s stock worth $182,485,000 after acquiring an additional 36,600 shares in the last quarter. Klingenstein Fields & Co. LP raised its stake in Synopsys by 13.6% during the 3rd quarter. Klingenstein Fields & Co. LP now owns 21,419 shares of the semiconductor company’s stock worth $10,846,000 after acquiring an additional 2,570 shares in the last quarter. BSW Wealth Partners raised its stake in Synopsys by 38.0% during the 3rd quarter. BSW Wealth Partners now owns 860 shares of the semiconductor company’s stock worth $435,000 after acquiring an additional 237 shares in the last quarter. Finally, Nvwm LLC grew its position in Synopsys by 2.5% during the 3rd quarter. Nvwm LLC now owns 2,617 shares of the semiconductor company’s stock worth $1,325,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock traded up $1.38 during trading on Monday, hitting $519.78. 65,611 shares of the company were exchanged, compared to its average volume of 1,066,343. The firm has a market capitalization of $79.85 billion, a price-to-earnings ratio of 53.78, a P/E/G ratio of 3.61 and a beta of 1.08. The business’s 50-day simple moving average is $504.96 and its 200 day simple moving average is $544.11. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of research analyst reports. Piper Sandler decreased 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. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.