Greenleaf Trust Acquires 1,023 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Greenleaf Trust boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,343 shares of the semiconductor company’s stock after buying an additional 1,023 shares during the period. Greenleaf Trust’s holdings in Synopsys were worth $3,212,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Kingsview Wealth Management LLC acquired a new stake in shares of Synopsys in the first quarter worth $239,000. Concurrent Investment Advisors LLC bought a new stake in Synopsys in the 1st quarter valued at $218,000. Jacobs & Co. CA bought a new stake in Synopsys in the 3rd quarter valued at $10,554,000. Vontobel Holding Ltd. grew its position in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after purchasing an additional 1,249 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 1.8 %

Shares of Synopsys stock opened at $493.41 on Thursday. The stock has a market capitalization of $75.60 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The company has a 50-day simple moving average of $510.44 and a 200 day simple moving average of $546.23.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data 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. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $2.17 earnings per share. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s 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 completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday. 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 for the company. KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Twelve research 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 $644.55.

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.