Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Boosted by Davis Rea LTD.

Davis Rea LTD. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 225.1% in the third quarter, Holdings Channel reports. The fund owned 37,592 shares of the semiconductor company’s stock after purchasing an additional 26,028 shares during the period. Synopsys accounts for about 8.3% of Davis Rea LTD.’s portfolio, making the stock its 3rd biggest position. Davis Rea LTD.’s holdings in Synopsys were worth $19,036,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SNPS. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Synopsys by 8,000.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 243 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 240 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Synopsys by 6.9% during the 3rd quarter. Financial Advocates Investment Management now owns 1,136 shares of the semiconductor company’s stock worth $575,000 after purchasing an additional 73 shares in the last quarter. Burr Financial Services LLC grew its stake in shares of Synopsys by 4.8% during the 3rd quarter. Burr Financial Services LLC now owns 5,586 shares of the semiconductor company’s stock worth $2,829,000 after purchasing an additional 256 shares during the period. SteelPeak Wealth LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at about $524,000. Finally, Diversify Wealth Management LLC purchased a new stake in Synopsys during the third quarter worth about $328,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Price Performance

Synopsys stock opened at $536.42 on Thursday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market cap of $82.40 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. The firm’s 50 day simple moving average is $506.07 and its 200-day simple moving average is $544.36.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNPS. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $643.00.

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.