SevenBridge Financial Group LLC Purchases Shares of 935 Synopsys, Inc. (NASDAQ:SNPS)

SevenBridge Financial Group LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 935 shares of the semiconductor company’s stock, valued at approximately $520,000.

Other large investors have also modified their holdings of the company. ORG Partners LLC raised its stake in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Pacifica Partners Inc. purchased a new position in shares of Synopsys in the 3rd quarter worth $25,000. Tsfg LLC boosted its holdings in 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 acquiring an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new stake in Synopsys during the second quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective 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. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $644.36.

Synopsys Price Performance

Shares of Synopsys stock opened at $565.07 on Friday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business has a 50-day moving average of $520.78 and a 200-day moving average of $545.66. The company has a market capitalization of $86.80 billion, a PE ratio of 58.62, a P/E/G ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities 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.