AlphaCore Capital LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

AlphaCore Capital LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,450 shares of the semiconductor company’s stock after buying an additional 640 shares during the period. Synopsys accounts for about 0.6% of AlphaCore Capital LLC’s investment portfolio, making the stock its 28th biggest holding. AlphaCore Capital LLC’s holdings in Synopsys were worth $2,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CreativeOne Wealth LLC purchased a new stake in shares of Synopsys during the first quarter valued at about $1,085,000. EP Wealth Advisors LLC boosted its stake in Synopsys by 17.6% in the first quarter. EP Wealth Advisors LLC now owns 1,400 shares of the semiconductor company’s stock valued at $800,000 after acquiring an additional 210 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Synopsys by 4.7% in the first quarter. Advisors Asset Management Inc. now owns 7,942 shares of the semiconductor company’s stock worth $4,539,000 after purchasing an additional 360 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Synopsys during the first quarter worth $286,000. Finally, Beck Capital Management LLC acquired a new position in shares of Synopsys during the first quarter worth $259,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 3.0 %

SNPS stock opened at $557.73 on Friday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a 50-day simple moving average of $519.28 and a 200-day simple moving average of $545.55. The stock has a market capitalization of $85.67 billion, a P/E ratio of 57.86, a P/E/G ratio of 3.26 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 earnings per share. On average, analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on SNPS shares. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Finally, Piper Sandler decreased their target price 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 issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Company 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.