Commerce Bank Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

by · The Cerbat Gem

Commerce Bank raised its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,029 shares of the semiconductor company’s stock after purchasing an additional 383 shares during the period. Commerce Bank’s holdings in Synopsys were worth $5,079,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNPS. ORG Partners LLC lifted its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new position in Synopsys during the 3rd quarter valued at approximately $25,000. Tsfg LLC grew its stake in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Finally, Piper Sandler reduced their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $649.82.

Read Our Latest Analysis on Synopsys

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $557.73 on Friday. The stock has a market capitalization of $85.67 billion, a price-to-earnings ratio of 57.86, a PEG ratio of 3.26 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company has a 50 day moving average price of $519.28 and a 200 day moving average price of $545.55.

Synopsys (NASDAQ:SNPS – Get Free Report) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) 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 business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the firm posted $2.17 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

About Synopsys

(Free Report)

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.

See Also

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