Hazlett Burt & Watson Inc. Acquires 20 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 40.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70 shares of the semiconductor company’s stock after buying an additional 20 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Synopsys were worth $35,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SNPS. ORG Partners LLC grew its holdings in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the second quarter worth $30,000. Pacifica Partners Inc. bought a new position in shares of Synopsys in the 3rd quarter valued at $25,000. Tsfg LLC raised its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. 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 for the company. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $643.00.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.2 %

SNPS opened at $524.52 on Tuesday. The company has a market capitalization of $80.57 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 3.16 and a beta of 1.08. The firm has a 50-day moving average price of $504.93 and a 200-day moving average price of $544.14. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month 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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 earnings per share. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.