Impax Asset Management Group plc Purchases 267,836 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Impax Asset Management Group plc grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 120.2% during the third quarter, HoldingsChannel.com reports. The fund owned 490,723 shares of the semiconductor company’s stock after buying an additional 267,836 shares during the quarter. Impax Asset Management Group plc’s holdings in Synopsys were worth $248,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SNPS. Swedbank AB purchased a new stake in shares of Synopsys during the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of 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 last quarter. 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNPS shares. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $643.00.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, 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 company insiders.

Synopsys Trading Up 1.2 %

NASDAQ SNPS opened at $524.52 on Tuesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a market cap 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 company’s 50 day moving average is $504.93 and its two-hundred day moving average is $544.14.

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. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. Sell-side 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.