Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by David J Yvars Group

David J Yvars Group grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 103.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,744 shares of the semiconductor company’s stock after purchasing an additional 2,924 shares during the quarter. Synopsys accounts for 1.8% of David J Yvars Group’s investment portfolio, making the stock its 18th biggest position. David J Yvars Group’s holdings in Synopsys were worth $2,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. ORG Partners LLC lifted its position in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the third quarter worth $25,000. Tsfg LLC boosted its stake 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 purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in 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 Analysts Forecast Growth

Several brokerages have recently weighed in on SNPS. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $643.00.

Synopsys Trading Up 6.0 %

NASDAQ:SNPS opened at $553.15 on Thursday. The stock has a 50 day moving average of $505.80 and a 200-day moving average of $544.28. The firm has a market capitalization of $84.97 billion, a PE ratio of 57.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Company 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.