Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 68.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,454 shares of the semiconductor company’s stock after selling 270,939 shares during the period. Eagle Asset Management Inc.’s holdings in Synopsys were worth $69,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Synopsys by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 918,699 shares of the semiconductor company’s stock valued at $465,220,000 after buying an additional 13,932 shares during the period. Banco Santander S.A. boosted its position in Synopsys by 283.9% in the 3rd quarter. Banco Santander S.A. now owns 1,363 shares of the semiconductor company’s stock valued at $690,000 after buying an additional 1,008 shares during the period. German American Bancorp Inc. boosted its position in Synopsys by 13.2% in the 3rd quarter. German American Bancorp Inc. now owns 10,419 shares of the semiconductor company’s stock valued at $5,276,000 after buying an additional 1,214 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Synopsys by 12.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,252 shares of the semiconductor company’s stock valued at $20,383,000 after buying an additional 4,463 shares during the period. Finally, King Luther Capital Management Corp boosted its position in Synopsys by 22.1% in the 3rd quarter. King Luther Capital Management Corp now owns 11,372 shares of the semiconductor company’s stock valued at $5,759,000 after buying an additional 2,059 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $557.73 on Friday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The stock has a market cap 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. The firm has a fifty day moving average price of $519.28 and a 200 day moving average price of $545.55.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Finally, Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $649.82.

Synopsys 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.