King Luther Capital Management Corp Purchases 2,059 Shares of Synopsys, Inc. (NASDAQ:SNPS)

King Luther Capital Management Corp boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 22.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,372 shares of the semiconductor company’s stock after purchasing an additional 2,059 shares during the quarter. King Luther Capital Management Corp’s holdings in Synopsys were worth $5,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. Swedbank AB raised its stake in Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the period. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Synopsys by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company’s stock worth $603,016,000 after purchasing an additional 63,966 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. 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. upped their price objective 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. Finally, Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $649.82.

Synopsys Trading Up 3.0 %

Shares of Synopsys stock opened at $557.73 on Friday. The firm’s 50 day moving average is $519.28 and its 200 day moving average is $545.55. The firm has a market capitalization of $85.67 billion, a PE ratio of 57.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.