Oak Ridge Investments LLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Oak Ridge Investments LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,978 shares of the semiconductor company’s stock after acquiring an additional 542 shares during the quarter. Oak Ridge Investments LLC’s holdings in Synopsys were worth $6,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AustralianSuper Pty Ltd increased its position in Synopsys by 23.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,930 shares of the semiconductor company’s stock valued at $977,000 after buying an additional 362 shares in the last quarter. US Bancorp DE grew its position in Synopsys by 4.2% during the 3rd quarter. US Bancorp DE now owns 73,443 shares of the semiconductor company’s stock valued at $37,191,000 after purchasing an additional 2,971 shares during the last quarter. Davis Rea LTD. increased its stake in Synopsys by 225.1% during the 3rd quarter. Davis Rea LTD. now owns 37,592 shares of the semiconductor company’s stock valued at $19,036,000 after purchasing an additional 26,028 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in 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 worth $123,000 after buying an additional 240 shares during the last quarter. Finally, Financial Advocates Investment Management lifted its stake in shares of Synopsys by 6.9% in the third quarter. Financial Advocates Investment Management now owns 1,136 shares of the semiconductor company’s stock worth $575,000 after buying an additional 73 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $513.61 on Friday. The firm has a market capitalization of $78.90 billion, a PE ratio of 53.28, a PEG ratio of 3.77 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock’s fifty day moving average is $505.38 and its 200 day moving average is $544.15.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNPS. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed 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 target on shares of Synopsys in a research note on Friday, August 23rd. Twelve 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 target price of $643.00.

Insider Buying and Selling

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

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.