Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,005 shares of the semiconductor company’s stock after purchasing an additional 322 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Synopsys were worth $1,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after buying an additional 278,265 shares in the last quarter. Capital World Investors increased its holdings in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Synopsys by 39.6% in the first 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 buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its holdings in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB increased its holdings in Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after buying an additional 25,999 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. 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 research note on Thursday, August 22nd. Loop Capital began coverage on shares of Synopsys in a research note on Monday. They set a “buy” rating and a $675.00 price objective for the company. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Finally, Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus price target of $649.82.

Insider Buying and Selling at Synopsys

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 value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by company insiders.

Synopsys Price Performance

SNPS stock traded up $8.42 during midday trading on Wednesday, hitting $561.89. The stock had a trading volume of 110,734 shares, compared to its average volume of 1,059,034. The firm has a market cap of $86.31 billion, a PE ratio of 57.41, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company’s 50-day moving average price is $509.95 and its 200 day moving average price is $545.30.

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 during 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%. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 EPS. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

About Synopsys

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.