E Fund Management Hong Kong Co. Ltd. Purchases 240 Shares of Synopsys, Inc. (NASDAQ:SNPS)

by · The Markets Daily

E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 8,000.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243 shares of the semiconductor company’s stock after acquiring an additional 240 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Synopsys were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Andina Capital Management LLC lifted its holdings in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the period. Cascade Financial Partners LLC increased its position in 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 purchasing an additional 18 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in Synopsys by 0.9% during the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 20 shares in the last quarter. Hilltop National Bank increased its position in Synopsys by 6.0% during the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after purchasing an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its position in Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target 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. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $643.00.

View Our Latest Stock Report on SNPS

Synopsys Stock Performance

NASDAQ:SNPS opened at $536.42 on Thursday. The firm’s fifty day moving average is $506.07 and its 200-day moving average is $544.36. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market cap of $82.40 billion, a P/E ratio of 55.65, a P/E/G ratio of 3.52 and a beta of 1.08.

Synopsys (NASDAQ:SNPS – Get Free Report) last posted 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 net margin of 24.06% and a return on equity of 22.09%. The company 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 quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Synopsys Profile

(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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