Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Amalgamated Bank

Amalgamated Bank raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,576 shares of the semiconductor company’s stock after purchasing an additional 1,829 shares during the quarter. Amalgamated Bank’s holdings in Synopsys were worth $17,509,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Synopsys during the first quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 1,514,449 shares during the period. GQG Partners LLC lifted its stake in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in shares of Synopsys during the second quarter worth $572,050,000. Finally, Capital World Investors grew its stake in shares of 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. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $521.98 on Wednesday. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company has a market capitalization of $80.18 billion, a price-to-earnings ratio of 54.15, a price-to-earnings-growth ratio of 3.16 and a beta of 1.08. The business has a 50-day moving average of $504.94 and a two-hundred day moving average of $544.22.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during 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 business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 EPS. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNPS shares. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $643.00.

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.