923 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 923 shares of the semiconductor company’s stock, valued at approximately $467,000.

A number of other hedge funds also recently modified their holdings of the stock. Waverton Investment Management Ltd raised its holdings in shares of Synopsys by 20.9% in the 3rd quarter. Waverton Investment Management Ltd now owns 331,825 shares of the semiconductor company’s stock worth $168,129,000 after purchasing an additional 57,373 shares during the period. Apollon Wealth Management LLC raised its holdings in Synopsys by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,505 shares of the semiconductor company’s stock valued at $2,281,000 after acquiring an additional 214 shares during the period. Coalescence Partners Investment Management LP raised its holdings in Synopsys by 49.0% during the 3rd quarter. Coalescence Partners Investment Management LP now owns 21,777 shares of the semiconductor company’s stock valued at $11,028,000 after acquiring an additional 7,165 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in Synopsys by 4.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company’s stock valued at $568,000 after acquiring an additional 46 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in Synopsys by 44.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 35,158 shares of the semiconductor company’s stock valued at $17,804,000 after acquiring an additional 10,878 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $541.56 on Thursday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a fifty day moving average of $517.91 and a 200 day moving average of $545.47. The firm has a market capitalization of $83.19 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results 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. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNPS. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank began coverage on shares of Synopsys in a report 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 target price on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler lowered their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

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.