416 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by United Advisor Group LLC

United Advisor Group LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 416 shares of the semiconductor company’s stock, valued at approximately $211,000.

Several other large investors have also made changes to their positions in the business. Kingsview Wealth Management LLC purchased a new position in Synopsys during the first quarter worth approximately $239,000. Davidson Capital Management Inc. grew its position in Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Synopsys during the 1st quarter worth approximately $218,000. Jacobs & Co. CA acquired a new stake in Synopsys during the 3rd quarter worth approximately $10,554,000. Finally, Vontobel Holding Ltd. increased its position in shares of Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after acquiring an additional 43,228 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 6.0 %

Shares of SNPS opened at $553.15 on Thursday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. 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 cap of $84.97 billion, a price-to-earnings ratio of 57.38, a PEG ratio of 3.20 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued 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. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 earnings per share. On average, sell-side analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on 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 sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of analyst reports. Needham & Company LLC reiterated 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 lifted their target price on 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 target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler reduced their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average target price of $643.00.

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.