Assetmark Inc. Buys 650 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Assetmark Inc. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,903 shares of the semiconductor company’s stock after purchasing an additional 650 shares during the period. Assetmark Inc.’s holdings in Synopsys were worth $8,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new stake in Synopsys during the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its stake in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP acquired a new position in Synopsys in the second quarter worth about $572,050,000. Finally, Capital World Investors lifted its stake in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were 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 owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Synopsys Price Performance

Shares of Synopsys stock opened at $556.26 on Tuesday. The firm has a 50 day simple moving average of $507.77 and a 200 day simple moving average of $545.05. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market cap of $85.45 billion, a P/E ratio of 57.70, a P/E/G ratio of 3.42 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.17 earnings per share. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNPS. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler cut their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Loop Capital initiated coverage on shares of Synopsys in a research note on Monday. They set a “buy” rating and a $675.00 price objective on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $649.82.

About Synopsys

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.