First Personal Financial Services Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

First Personal Financial Services boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 384.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 630 shares of the semiconductor company’s stock after purchasing an additional 500 shares during the period. First Personal Financial Services’ holdings in Synopsys were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Andina Capital Management LLC boosted its position in Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its stake in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Synopsys by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 20 shares during the period. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the third 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 during the period. Finally, Hilltop National Bank raised its stake in shares of Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, 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. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $643.00.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 directly 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 legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 2.1 %

Shares of NASDAQ SNPS opened at $561.55 on Friday. The firm has a market capitalization of $86.26 billion, a P/E ratio of 58.25, a P/E/G ratio of 3.37 and a beta of 1.08. The stock’s 50-day simple moving average is $507.77 and its two-hundred day simple moving average is $544.81. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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 analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company earned $2.17 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal 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.