German American Bancorp Inc. Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

German American Bancorp Inc. raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,419 shares of the semiconductor company’s stock after purchasing an additional 1,214 shares during the period. German American Bancorp Inc.’s holdings in Synopsys were worth $5,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SNPS. Price T Rowe Associates Inc. MD increased its position 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 purchasing an additional 1,514,449 shares during the last quarter. Swedbank AB boosted its stake in Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares during the period. Van ECK Associates Corp increased its position in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the third quarter valued at $633,469,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Synopsys by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company’s stock worth $603,016,000 after acquiring an additional 63,966 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 1.4 %

Shares of NASDAQ:SNPS opened at $541.56 on Thursday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The business’s fifty day simple moving average is $517.91 and its 200-day simple moving average is $545.47. The company has a market capitalization of $83.19 billion, a PE ratio of 56.18, a P/E/G ratio of 3.26 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $2.17 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SNPS shares. JPMorgan Chase & Co. upped their price target 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 reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Finally, Piper Sandler lowered their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $649.82.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

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.