Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 31.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,032 shares of the semiconductor company’s stock after buying an additional 245 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Synopsys were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

SNPS has been the subject of several analyst reports. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday. Mizuho began coverage on Synopsys in a research note on Tuesday. They set an “outperform” rating and a $650.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $644.55.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys Stock Down 1.8 %

Shares of SNPS stock opened at $493.41 on Thursday. The business has a 50 day moving average of $510.44 and a two-hundred day moving average of $546.23. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38. The company has a market cap of $75.60 billion, a P/E ratio of 53.63, a PEG ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 earnings per share. Analysts expect 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.