Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 79.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 854 shares of the semiconductor company’s stock after purchasing an additional 378 shares during the period. Princeton Capital Management LLC’s holdings in Synopsys were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. ORG Partners LLC grew its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in shares of Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC raised its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys during the 2nd quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNPS shares. Piper Sandler reduced their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on 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. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.6 %

Shares of NASDAQ SNPS opened at $523.98 on Tuesday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The business’s 50 day moving average is $515.34 and its two-hundred day moving average is $545.52. The firm has a market cap of $80.49 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted 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 the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. 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 business earned $2.17 EPS. Analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Synopsys Company 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.