Chicago Partners Investment Group LLC Has $387,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

by · The Cerbat Gem

Chicago Partners Investment Group LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 784 shares of the semiconductor company’s stock after buying an additional 62 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Synopsys were worth $387,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNPS. Kingsview Wealth Management LLC bought a new position in Synopsys during the first quarter worth about $239,000. Davidson Capital Management Inc. grew its holdings in Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after acquiring an additional 4,736 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $218,000. Jacobs & Co. CA acquired a new position in shares of Synopsys in the 3rd quarter valued at $10,554,000. Finally, Vontobel Holding Ltd. grew 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 buying an additional 43,228 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNPS shares. Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird increased their target price 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. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $643.00.

Read Our Latest Report on Synopsys

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Up 1.2 %

Shares of SNPS stock opened at $524.52 on Tuesday. The stock has a fifty day moving average of $504.93 and a 200 day moving average of $544.14. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market capitalization of $80.57 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 3.61 and a beta of 1.08.

Synopsys (NASDAQ:SNPS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current 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.

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