Bouvel Investment Partners LLC Has $3.98 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Bouvel Investment Partners LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,865 shares of the semiconductor company’s stock after acquiring an additional 63 shares during the quarter. Synopsys comprises about 1.5% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 23rd largest position. Bouvel Investment Partners LLC’s holdings in Synopsys were worth $3,983,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SNPS. ROI Financial Advisors LLC acquired a new position in Synopsys during the 3rd quarter valued at about $330,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in Synopsys by 19.1% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 2,005 shares of the semiconductor company’s stock valued at $1,015,000 after buying an additional 322 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Synopsys by 6.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,417 shares of the semiconductor company’s stock valued at $12,365,000 after acquiring an additional 1,554 shares during the last quarter. MQS Management LLC acquired a new stake in Synopsys during the 3rd quarter worth $631,000. Finally, Victory Capital Management Inc. raised its position in shares of Synopsys by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 225,834 shares of the semiconductor company’s stock valued at $114,360,000 after acquiring an additional 12,630 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of SNPS opened at $557.96 on Thursday. The firm has a market cap of $85.71 billion, a P/E ratio of 57.88, a PEG ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm’s 50 day moving average price is $509.95 and its two-hundred day moving average price is $545.30.

Synopsys (NASDAQ:SNPS) last issued 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. 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $2.17 earnings per share. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Loop Capital initiated coverage on Synopsys in a research note on Monday. They issued a “buy” rating and a $675.00 price target for the company. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $649.82.

Synopsys Company 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.