Gateway Investment Advisers LLC Buys 69 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Gateway Investment Advisers LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 772 shares of the semiconductor company’s stock after purchasing an additional 69 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Synopsys were worth $391,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SNPS. Andina Capital Management LLC raised its holdings in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 18 shares during the period. Cascade Financial Partners LLC grew its position in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares during the period. Ignite Planners LLC boosted its position in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 20 shares during the period. Finally, Monument Capital Management boosted its holdings in shares of Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. KeyCorp increased their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and an average target price of $642.22.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 1.3 %

Shares of SNPS stock opened at $539.92 on Monday. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The firm’s 50 day moving average is $510.84 and its 200 day moving average is $549.61. The stock has a market capitalization of $82.94 billion, a P/E ratio of 56.01, a P/E/G ratio of 3.64 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, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. As a group, equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.