MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires Shares of 11,948 Synopsys, Inc. (NASDAQ:SNPS)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Synopsys, Inc. (NASDAQ:SNPSFree Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 11,948 shares of the semiconductor company’s stock, valued at approximately $6,050,000.

A number of other large investors have also recently modified their holdings of SNPS. Redhawk Wealth Advisors Inc. lifted its holdings in Synopsys by 3.2% in the third quarter. Redhawk Wealth Advisors Inc. now owns 5,797 shares of the semiconductor company’s stock worth $2,936,000 after buying an additional 182 shares during the period. Sunflower Bank N.A. lifted its stake in shares of Synopsys by 25.1% in the 3rd quarter. Sunflower Bank N.A. now owns 499 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 100 shares during the period. Compagnie Lombard Odier SCmA boosted its position in shares of Synopsys by 35.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 1,830 shares of the semiconductor company’s stock valued at $927,000 after purchasing an additional 482 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in Synopsys by 51.5% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,251 shares of the semiconductor company’s stock worth $633,000 after purchasing an additional 425 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Synopsys by 170.0% in the third quarter. Exchange Traded Concepts LLC now owns 7,739 shares of the semiconductor company’s stock worth $3,919,000 after purchasing an additional 4,873 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $539.92 on Monday. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The company has a market cap of $82.94 billion, a P/E ratio of 56.01, a PEG ratio of 3.64 and a beta of 1.08. The stock’s fifty day moving average price is $510.84 and its 200-day moving average price is $549.61.

Synopsys (NASDAQ:SNPSGet Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business earned $2.17 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $642.22.

Get Our Latest Research Report on SNPS

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by insiders.

About Synopsys

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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