Handelsbanken Fonder AB Purchases 6,655 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Handelsbanken Fonder AB raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 120,418 shares of the semiconductor company’s stock after buying an additional 6,655 shares during the quarter. Handelsbanken Fonder AB’s holdings in Synopsys were worth $60,978,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Andina Capital Management LLC raised its position in shares of Synopsys by 2.8% during 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 period. Cascade Financial Partners LLC boosted its holdings in shares of Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after buying an additional 18 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC lifted its holdings in shares of Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after buying an additional 20 shares in the last quarter. Finally, Monument Capital Management boosted its holdings in Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS traded up $3.71 on Friday, reaching $499.12. The company’s stock had a trading volume of 637,006 shares, compared to its average volume of 1,113,492. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The stock has a market capitalization of $76.67 billion, a P/E ratio of 54.25, a PEG ratio of 3.28 and a beta of 1.08. The stock’s 50 day simple moving average is $512.11 and its two-hundred day simple moving average is $552.15.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $638.00.

Insider Activity

In related news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. 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 through this hyperlink. In other 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 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 approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,882 shares of company stock valued at $14,754,349. 0.66% of the stock is currently owned by insiders.

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.