Handelsbanken Fonder AB Has $60.98 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Handelsbanken Fonder AB increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,418 shares of the semiconductor company’s stock after acquiring an additional 6,655 shares during the quarter. Handelsbanken Fonder AB owned about 0.08% of Synopsys worth $60,978,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. CIBC Private Wealth Group LLC raised its stake in Synopsys by 1.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,861 shares of the semiconductor company’s stock worth $3,018,000 after buying an additional 105 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Synopsys by 2.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 9,823 shares of the semiconductor company’s stock valued at $5,058,000 after buying an additional 201 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Synopsys by 3.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 155,834 shares of the semiconductor company’s stock valued at $80,241,000 after buying an additional 5,846 shares during the last quarter. Finally, Morningstar Investment Services LLC purchased a new position in shares of Synopsys in the 4th quarter worth about $260,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SNPS. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Ten 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 $638.00.

Synopsys Trading Up 0.7 %

Synopsys stock traded up $3.71 during mid-day trading on Friday, hitting $499.12. The company had a trading volume of 637,006 shares, compared to its average volume of 1,113,492. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The company’s fifty day moving average is $512.11 and its 200-day moving average is $552.15. The company has a market capitalization of $76.67 billion, a price-to-earnings ratio of 54.25, a P/E/G ratio of 3.28 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping 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 firm 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 business posted $2.17 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Synopsys news, insider Geus Aart De sold 8,648 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $620.29, for a total value of $5,364,267.92. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,360,485.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,882 shares of company stock valued at $14,754,349 in the last 90 days. 0.66% of the stock is currently owned by insiders.

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.