Stonegate Investment Group LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Stonegate Investment Group LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 613 shares of the semiconductor company’s stock after purchasing an additional 105 shares during the quarter. Stonegate Investment Group LLC’s holdings in Synopsys were worth $310,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new stake in Synopsys during the 1st quarter valued at about $239,000. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys during the first quarter worth approximately $218,000. Jacobs & Co. CA bought a new stake in shares of Synopsys during the third quarter valued at approximately $10,554,000. Vontobel Holding Ltd. raised its stake in shares of Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after acquiring an additional 43,228 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $644.00.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

NASDAQ:SNPS opened at $507.03 on Friday. The company’s 50-day simple moving average is $512.02 and its 200-day simple moving average is $547.77. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38. The stock has a market capitalization of $77.69 billion, a P/E ratio of 55.11, a P/E/G ratio of 3.73 and a beta of 1.08.

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