Princeton Global Asset Management LLC Takes $44,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 86 shares of the semiconductor company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SNPS. Norden Group LLC raised its position in shares of Synopsys by 24.3% during the 1st quarter. Norden Group LLC now owns 567 shares of the semiconductor company’s stock valued at $324,000 after buying an additional 111 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Synopsys by 21.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,411 shares of the semiconductor company’s stock worth $11,665,000 after purchasing an additional 3,553 shares during the period. Jennison Associates LLC raised its position in Synopsys by 33.2% in the 1st quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company’s stock worth $5,458,000 after purchasing an additional 2,379 shares during the period. Central Pacific Bank Trust Division purchased a new position in Synopsys in the 1st quarter worth $438,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Synopsys by 5.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 61,687 shares of the semiconductor company’s stock worth $35,254,000 after purchasing an additional 3,037 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird lifted their target price 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. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $643.00.

Synopsys Trading Up 0.9 %

Shares of SNPS opened at $518.40 on Monday. The firm’s 50-day moving average price is $504.96 and its 200-day moving average price is $544.11. The firm has a market capitalization of $79.63 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 3.61 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.45 EPS 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.