2,194 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by WealthPLAN Partners LLC

WealthPLAN Partners LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,194 shares of the semiconductor company’s stock, valued at approximately $1,111,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB bought a new position in Synopsys in the first quarter valued at approximately $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its stake in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Synopsys in the second quarter worth about $572,050,000. Finally, Capital World Investors increased its position in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNPS. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Stock Performance

SNPS stock opened at $556.26 on Tuesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock’s 50 day simple moving average is $507.77 and its 200 day simple moving average is $545.05. The company has a market cap of $85.45 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

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.