International Assets Investment Management LLC Has $121.29 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

International Assets Investment Management LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 57,616.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 239,522 shares of the semiconductor company’s stock after purchasing an additional 239,107 shares during the quarter. International Assets Investment Management LLC’s holdings in Synopsys were worth $121,292,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Kingsview Wealth Management LLC acquired a new position in shares of Synopsys in the 1st quarter valued at approximately $239,000. Concurrent Investment Advisors LLC acquired a new position in shares of Synopsys in the 1st quarter valued at approximately $218,000. Jacobs & Co. CA bought a new stake in Synopsys in the 3rd quarter valued at approximately $10,554,000. Vontobel Holding Ltd. lifted its stake in 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 acquiring an additional 43,228 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in 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 acquiring an additional 1,249 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 1.3 %

SNPS opened at $501.58 on Friday. The stock’s fifty day simple moving average is $509.38 and its 200 day simple moving average is $545.88. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The stock has a market cap of $77.05 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 3.44 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating 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 firm 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 firm posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Mizuho initiated coverage on Synopsys in a research note on Tuesday. They issued an “outperform” rating and a $650.00 target price on the stock. Berenberg Bank initiated 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. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.