Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Amalgamated Bank

Amalgamated Bank boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,576 shares of the semiconductor company’s stock after acquiring an additional 1,829 shares during the quarter. Amalgamated Bank’s holdings in Synopsys were worth $17,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC grew its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys in the 2nd quarter worth about $30,000. Pacifica Partners Inc. purchased a new position in Synopsys during the 3rd quarter valued at about $25,000. Tsfg LLC raised its position in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird upped 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. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $643.00.

Synopsys Stock Down 0.5 %

Shares of NASDAQ SNPS opened at $521.98 on Wednesday. The stock has a market capitalization of $80.18 billion, a PE ratio of 54.15, a P/E/G ratio of 3.16 and a beta of 1.08. The firm has a fifty day moving average of $504.94 and a 200-day moving average of $544.22. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.