PDS Planning Inc Has $527,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

PDS Planning Inc increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,040 shares of the semiconductor company’s stock after acquiring an additional 24 shares during the quarter. PDS Planning Inc’s holdings in Synopsys were worth $527,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SNPS. Norden Group LLC raised its holdings in Synopsys by 24.3% during the 1st quarter. Norden Group LLC now owns 567 shares of the semiconductor company’s stock worth $324,000 after purchasing an additional 111 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Synopsys by 21.1% in the first quarter. Janney Montgomery Scott LLC now owns 20,411 shares of the semiconductor company’s stock valued at $11,665,000 after buying an additional 3,553 shares during the period. Jennison Associates LLC boosted its holdings in Synopsys by 33.2% in the first quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company’s stock worth $5,458,000 after acquiring an additional 2,379 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Synopsys in the first quarter valued at $438,000. Finally, Larson Financial Group LLC grew its holdings in shares of Synopsys by 200.0% during the first quarter. Larson Financial Group LLC now owns 375 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 250 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 1.2 %

Shares of SNPS opened at $524.52 on Tuesday. The firm has a market capitalization of $80.57 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 3.16 and a beta of 1.08. The firm’s 50-day moving average price is $504.93 and its 200-day moving average price is $544.14. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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

Analyst Upgrades and Downgrades

SNPS has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $643.00.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value 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 approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.