Victory Capital Management Inc. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Victory Capital Management Inc. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,834 shares of the semiconductor company’s stock after purchasing an additional 12,630 shares during the period. Victory Capital Management Inc.’s holdings in Synopsys were worth $114,360,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position 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 acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in Synopsys during the third quarter worth $25,000. Tsfg LLC increased its position in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted 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. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Finally, Loop Capital assumed coverage on Synopsys in a research report on Monday. They set a “buy” rating and a $675.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $649.82.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $553.47 on Wednesday. The firm has a market cap of $85.02 billion, a P/E ratio of 57.41, a PEG ratio of 3.39 and a beta of 1.08. The firm’s 50-day simple moving average is $508.51 and its 200-day simple moving average is $545.23. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.