Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Czech National Bank

Czech National Bank boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,211 shares of the semiconductor company’s stock after purchasing an additional 2,124 shares during the quarter. Czech National Bank’s holdings in Synopsys were worth $15,805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the period. Capital World Investors boosted its position in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC boosted its position in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Finally, Swedbank AB boosted its position in Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.7 %

Shares of Synopsys stock traded up $3.71 on Friday, reaching $499.12. 637,006 shares of the company were exchanged, compared to its average volume of 1,080,802. The stock has a fifty day moving average price of $512.11 and a 200-day moving average price of $552.38. The firm has a market capitalization of $76.47 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38.

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

Insider Activity

In other news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,882 shares of company stock worth $14,754,349. 0.66% of the stock is owned by corporate 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 price target on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $638.00.

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.