HighTower Advisors LLC Has $17.89 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,241 shares of the semiconductor company’s stock after purchasing an additional 2,903 shares during the quarter. HighTower Advisors LLC’s holdings in Synopsys were worth $17,894,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Obermeyer Wood Investment Counsel Lllp boosted its position in Synopsys by 2.6% during the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 22 shares during the last quarter. Pathstone Family Office LLC raised its holdings in shares of Synopsys by 100.0% during the third quarter. Pathstone Family Office LLC now owns 5,151 shares of the semiconductor company’s stock valued at $2,364,000 after purchasing an additional 2,575 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Synopsys by 9.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,987 shares of the semiconductor company’s stock valued at $6,879,000 after purchasing an additional 1,238 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Synopsys by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 826,010 shares of the semiconductor company’s stock valued at $379,114,000 after purchasing an additional 7,294 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Synopsys by 4.1% during the third quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 59 shares during the period. Institutional investors own 84.12% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $575.30 on Monday. Synopsys, Inc. has a 52-week low of $347.97 and a 52-week high of $582.85. The company has a 50-day simple moving average of $530.48 and a two-hundred day simple moving average of $493.26. The company has a market capitalization of $87.44 billion, a price-to-earnings ratio of 72.46, a PEG ratio of 3.87 and a beta of 1.07.

Synopsys (NASDAQ:SNPSGet Free Report) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.13. Synopsys had a net margin of 21.05% and a return on equity of 20.85%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 8.71 EPS for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Needham & Company LLC upped their target price on shares of Synopsys from $500.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. StockNews.com lowered shares of Synopsys from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 23rd. Stifel Nicolaus restated a “buy” rating and issued a $550.00 target price on shares of Synopsys in a report on Monday, November 27th. Morgan Stanley initiated coverage on shares of Synopsys in a report on Friday, November 10th. They issued an “overweight” rating and a $600.00 target price on the stock. Finally, Rosenblatt Securities upped their target price on shares of Synopsys from $485.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $576.60.

View Our Latest Stock Report on Synopsys

Insider Activity

In other news, insider John F. Runkel, Jr. sold 2,508 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John F. Runkel, Jr. sold 2,508 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,065 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total transaction of $4,484,455.50. Following the completion of the sale, the executive now owns 1,617 shares in the company, valued at $799,929.90. The disclosure for this sale can be found here. Insiders sold 15,073 shares of company stock valued at $7,485,405 in the last three months. Company insiders own 0.69% of the company’s stock.

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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