Sentry Investment Management LLC Purchases 74 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sentry Investment Management LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 1,423 shares of the semiconductor company’s stock after buying an additional 74 shares during the quarter. Sentry Investment Management LLC’s holdings in Synopsys were worth $721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Synopsys in the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD raised its position in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after buying an additional 1,514,449 shares during the last quarter. GQG Partners LLC lifted its stake in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors boosted its holdings in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. 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. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Piper Sandler cut their price objective on 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 reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus target price of $643.00.

Synopsys Stock Performance

Shares of Synopsys stock opened at $524.52 on Tuesday. The company has a market capitalization of $80.57 billion, a P/E ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. The company has a fifty day moving average of $504.93 and a 200 day moving average of $544.14. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released 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 company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

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.