German American Bancorp Inc. Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

German American Bancorp Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,419 shares of the semiconductor company’s stock after buying an additional 1,214 shares during the period. German American Bancorp Inc.’s holdings in Synopsys were worth $5,276,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% during the 1st 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 purchasing an additional 1,514,449 shares during the last quarter. Swedbank AB lifted its holdings in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares during the last quarter. Parnassus Investments LLC bought a new stake in Synopsys in the 3rd quarter worth about $633,469,000. Finally, Janus Henderson Group PLC raised its position in Synopsys by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company’s stock worth $603,016,000 after buying an additional 63,966 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.4 %

NASDAQ:SNPS opened at $541.56 on Thursday. The business’s 50-day simple moving average is $517.91 and its two-hundred day simple moving average is $545.47. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market cap of $83.19 billion, a PE ratio of 56.18, a P/E/G ratio of 3.26 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, beating 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 quarter last year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNPS. JPMorgan Chase & Co. lifted their price target 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. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $649.82.

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.